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TRUMP BACKS DOWN ON SOME TARIFFS, BUT VOLATILITY PERSISTS
The New Indian Express
|February 05, 2025
IT was a manic Monday for global markets as Donald Trump kept his promise of imposing new tariffs on China, Mexico and Canada.
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The European Union is under threat, too. The fear of a global trade war and a slowdown in manufacturing roiled sentiments everywhere. The Sensex slumped 750 points before recovering to close 319 points down; Asian stocks fell the most in nearly six months. The rupee fell to a lifetime low of 87.185 against the US dollar, while the Canadian dollar sank to its weakest since 2003. Chip exporters and Japanese carmakers were among the biggest losers. Oil prices jumped on the disruptive news.
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