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Organization: Trump's "Tariff Storm" Sweeps the Globe, Asian Markets Continue to Sell Off

Organization: Trump's "Tariff Storm" Sweeps the Globe, Asian Markets Continue to Sell Off

Bitget2025/04/07 05:57

Due to the market's difficulty in digesting last week's earthquake-like tariff shock, Asian stock markets generally suffered heavy losses today. DBS Bank Chief Economist Taimur Baig said, "Risk aversion and market sell-offs seem to have not ended," as people are still worried about more measures being introduced. The United States may raise secondary tariffs, and regions and countries such as the European Union may target US service exports.

He wrote in a report that the Federal Reserve will be forced to cut interest rates under pressure, even though inflation is still far above target levels, global financial stability could be threatened. DBS Bank believes that there is a 45% chance of economic growth being below trend while inflation is above trend. The institution believes there is a 35% chance of a U.S recession which would put pressure on the prospects for Asia's export-dependent economies.

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