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Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
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BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
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Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
U.S. stock index futures dipped Monday night following Wall Street's weak first-quarter performance, as recession fears mounted ahead of President Donald Trump’s upcoming tariff announcements.
S&P 500 Futures dropped 0.4% to 5,633.50, while Nasdaq 100 Futures slid 0.5% to 19,351.50. Dow Jones Futures edged down 0.2% to 42,177.0 by 8:05 PM ET. The pullback reflects growing investor anxiety as Trump's trade policy gains momentum.
Set for April 2, Trump’s new "reciprocal tariffs" will target a wide range of trading partners with no exemptions. The following day, a 25% tariff on auto imports will take effect. These measures aim to reduce U.S. dependence on foreign goods and revive domestic manufacturing but risk disrupting global trade and fueling economic downturn concerns.
A Wall Street Journal report noted Trump’s consideration of expanding tariffs to more countries, escalating fears of a trade war. In response, Goldman Sachs raised the likelihood of a U.S. recession from 20% to 35%, projecting average tariff rates to climb to 15%.
Markets have already responded with volatility. Despite a 0.6% gain on Monday, the S&P 500 posted a 5% loss for Q1 2025. The Nasdaq ended flat for the day but plunged over 10% for the quarter. The Dow gained 1% Monday yet still lost 2% for the quarter. All three indexes closed lower for March.
Market leaders struggled too. NVIDIA (NASDAQ:NVDA) fell 1.2% Monday and tumbled 20% in Q1. Tesla (NASDAQ:TSLA) sank over 35% for the quarter and is under pressure ahead of this week’s delivery report, facing protests tied to CEO Elon Musk’s political actions.
Investors brace for a turbulent start to Q2 as policy uncertainty looms.
