Asian Stocks Extend Global Rout After Trump's Shock Tariff Blitz

Source: International Business Times

Fears about the US economy have hammered the dollar, which has fallen to a six-month low against the yen, euro and sterling AFP Equities extended losses in Asia on Friday, extending a global rout inflicted by Donald Trump's tariff blitz that has inflamed a trade war and ramped up recession and inflation fears. The US president's harsher-than-expected "Liberation Day" levies sent shockwaves through markets on Thursday, with Wall Street suffering its worst day since the early days of the Covid-19 pandemic and the dollar tanking against major peers. As stocks were falling off a cliff on Thursday, the 78-year-old Republican insisted they will "boom" as the economy recalibrates.