Global Markets in Turmoil Amid New U.S. Auto Tariffs
- NexxtGen Markets
- Mar 28
- 2 min read
Here's your latest update from the team at NexxtGen Markets here in the City of London.
📉 Wall Street Reacts to Tariff Announcement
U.S. markets closed lower on Thursday, 27th March 2025, as investors grappled with the implications of President Donald Trump's announcement of a 25% tariff on auto imports. The S&P 500 declined by 0.33% to 5,693.31, while the Dow Jones Industrial Average and Nasdaq Composite also registered losses.
🇪🇺 European Markets Hit Two-Week Low
European stocks mirrored Wall Street's downturn, reaching a two-week low. Automotive giants such as BMW and Volkswagen experienced significant share price drops. The UK government, through Chancellor Rachel Reeves, indicated a preference for improved trade relations over retaliatory measures.
🇯🇵 Asian Markets Slide Amid Trade Concerns
In Asia, markets responded negatively to the tariff news. Japan's Nikkei 225 and South Korea's KOSPI both fell by approximately 2%. Hong Kong's Hang Seng and China's Shanghai Composite Index also saw declines, reflecting widespread investor anxiety over potential trade wars.
🛢️ Commodities: Oil Dips, Gold Hits Record High
Oil prices experienced slight declines due to concerns over the impact of new tariffs on the global economy. Brent crude and U.S. West Texas Intermediate crude both saw minor decreases. Conversely, gold reached a record high, driven by a movement towards safe-haven investments amidst trade war concerns.
📊 Currency Markets: Dollar Steady, Yen Strengthens
The U.S. dollar remained steady, awaiting an upcoming inflation report, though it's likely to end the quarter with a decline. The yen strengthened on expectations of potential rate hikes by the Bank of Japan.
📈 Corporate Spotlight: Cboe Global Markets Outperforms
Amid a generally tough trading session, Cboe Global Markets Inc. shares increased by 1.06% to $220.27, marking the third consecutive day of gains and outperforming competitors.
🌍 Looking Ahead
Investors are bracing for further developments as President Trump hinted at additional tariff announcements next week. The global markets remain on edge, with attention focused on potential retaliatory measures and their implications for international trade.
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