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Tariffs Shake Markets: Equities Drop, Yields Rise, and USD Strengthens
Financial markets reacted negatively to President Trump’s announcement of 25% tariffs on automobile imports, effective from 2 April. US and European equities sold off.
St Louis Fed President Musalem warned that inflationary impact from tariffs might be longer- lasting, prompting Fed to keep interest rates higher.
Treasury and Australian yields were higher, but Gilt yields in the UK fell as the UK government confirmed plans for public spending cuts.
