Global stock markets and oil prices fell sharply as investors sought safer assets following President Donald Trump's announcement of new U.S. trade tariffs, raising fears of a global recession. The tariffs, including a 10% baseline levy and additional reciprocal tariffs, particularly target Asian nations like China, which faces a 34% levy, prompting China to plan countermeasures. The tariffs have caused market fluctuations in Europe and sparked a global debate on the future of international trade, as approximately 90 countries will face additional taxes starting April 9.
