Global Stock Markets Plunge Ahead of Monday Trading as Tariff Fears Escalate

Hadisur Rahman, Jadetimes Staff

H. Rahman is a Jadetimes news reporter covering Business

---

Image Source: Michael M. Santiago/Getty Images

Global stock markets are reeling ahead of Monday’s opening bell in New York, continuing a dramatic selloff sparked by escalating tariff tensions between the U.S. and its trading partners.

Dow Jones Industrial Average futures tumbled by approximately 1,300 points, or 3.5%, while S&P 500 futures slid 3.9%, and Nasdaq 100 futures plummeted 4.8%. The sharp declines signal another tumultuous day for investors, following two days of steep losses that erased $6 trillion in stock market value.

The pressure originated from President Donald Trump’s announcement of reciprocal tariffs aimed at reducing trade deficits with China, the European Union, and other countries. When asked Sunday night if the tariffs were intended to damage markets, Trump replied, “That’s not true but I do want to solve the deficit we have.” He added that he had been in talks with European and Asian leaders over the weekend, noting, “They’re dying to make a deal.”

Markets across Asia followed suit, with Japan’s Nikkei 225 down 6% and the Topix index plunging 6.7%. China’s Shanghai Composite lost 4%, while Hong Kong’s Hang Seng Index crashed 8.6%.

The turmoil marks an extension of last week’s massive losses. The Dow Jones fell 3,269 points, or 7.9%, to close at 38,315. The S&P 500 dropped 9.1% to 5,074, and the Nasdaq Composite plunged 10% to 15,588, officially entering bear market territory after falling more than 20% from its December peak.

China’s response to the U.S. tariffs included retaliatory duties of 34%, which further rattled investor confidence. The S&P 500 experienced its largest one-day drop since 2020, and the Cboe Volatility Index soared to 41, signaling heightened market fear.

If the S&P 500 closes below 4,915.32 on Monday, it will officially join the Nasdaq in bear market territory, deepening concerns of a prolonged economic downturn.

Looking ahead, investors will monitor key economic indicators, including the March Consumer Price Index (CPI) on Thursday, followed by the Producer Price Index (PPI) on Friday. The University of Michigan’s preliminary consumer sentiment survey for April is also due Friday.

Federal Reserve Governor Adriana Kugler is scheduled to speak on inflation dynamics and the Phillips curve at Harvard University on Monday, an address likely to be closely watched by market participants.

Becker College Used Residual Assets for Record Donation

Wanjiru Waweru, Jadetimes Contributor

W. Waweru is a Jadetimes News Reporter Covering America News

---

Image Source: Spectrum News

Worcester, Massachusetts – A disused college arranged to continue supporting students around the region with a recent donation to the Greater Worcester Community Foundation. Becker College, which managed in Leicester and Worcester before closing its doors in 2021, contributed the enormous donation in the Foundation’s history of $13 million.

Christine Cassidy, Chair of the Becker College Board of Trustees, addressed how the closed-down school was eligible to contribute.

“Fortunately through the sale of the college’s assets and properties in Worcester and Leicester and very careful management as the college was winding down, we were able to develop a fund of residual assets significant enough for us to make several gifts,” said Cassidy.

Becker College closed because of financial issues it asserted when COVID-19 disrupted it; however, Cassidy reported that with these assets maintained, the Board wants to keep the school’s legacy alive for a future generation of students.

Peter Dunn, President and CEO of the Greater Worcester Community Foundation reported alongside being the largest donation to the foundation, the money would support to development of its enormous scholarship fund.

“It will produce more than $400,000 in new scholarship awards each year, and will also create a really unique and distinctive prize for a student to be able to be funded to do a humanitarian project anywhere in the world,” said Dunn.

Cassidy reported that the humanitarian aspect of the scholarships in particular speaks to the mission of Becker College, and is hopeful to review the school’s legacy and continue successfully into the future.

“It had a focus on global citizenship, social entrepreneurism, and this humanitarian prize really allows that legacy to continue,” said Cassidy. “What we’ll look to do is work with local colleges to identify a student who is interested in pursuing some type of opportunity in global welfare and global citizenship and support them, it’s really a very exciting thing to do.”

Keir Starmer Pledges to Shield UK Businesses from Trump Era Tariff Shockwaves

Hadisur Rahman, Jadetimes Staff

H. Rahman is a Jadetimes news reporter covering Business

---

Image Source: PA Media

Prime Minister Sir Keir Starmer has vowed to use industrial policy as a strategic tool to protect UK businesses from the sweeping tariffs imposed by US President Donald Trump, calling the global trade environment a "gathering storm" for British exporters.

In an article for The Sunday Telegraph, Sir Keir stated that while the UK will continue to push for a trade deal with the US, his government is ready to intervene directly in the economy if necessary to protect national interests. He acknowledged that such interventionist approaches may be controversial but insisted they are essential in today’s rapidly shifting global marketplace.

“Some people may feel uncomfortable about this – the idea the state should intervene directly to shape the market has often been derided,” he wrote. “But we simply cannot cling on to old sentiments when the world is turning this fast.”

The US recently introduced a 10% baseline import duty, impacting UK goods among others, along with steep 25% tariffs specifically targeting UK car exports, steel, and aluminium. The measures are set to expand further on April 9, with some countries facing tariffs of up to 50%.

President Trump has defended the tariffs as a way to boost the domestic economy by encouraging consumers to buy American. However, the global response has been volatile, with retaliatory measures from countries like China and global stock markets dropping over 5%, sparking fears of a recession.

Jaguar Land Rover responded by announcing a temporary pause on all shipments to the US, citing the need to reassess operations under the new trade terms.

Starmer said the government will now accelerate its domestic industrial strategy, aimed at improving competitiveness and reducing exposure to global economic shocks. While an official industrial strategy was already promised in Labour’s election manifesto for this summer, elements of it may be expedited to support UK industries hit hardest by the tariffs.

The prime minister emphasized that while his preference is for a negotiated resolution with the US, “all options remain on the table.”

“I will only strike a deal if it is right for British business and the security of working people,” he added.

The opposition Conservative leader, Kemi Badenoch, has urged the government to prioritize a “deep and meaningful” trade deal with the US, warning against measures that could compromise standards or delay growth.

In 2024, the UK exported nearly £60 billion worth of goods to the US, with machinery, automobiles, and pharmaceuticals among the top categories. To prepare for potential retaliatory action, the UK government released a 400-page list of American products that could face counter-tariffs, covering approximately 27% of imports from the US. These goods were selected to minimize economic disruption within the UK.

Business Secretary Jonathan Reynolds confirmed the government will consult with British companies to assess the impact of retaliatory tariffs before any measures are implemented.

Sir Keir also indicated a broader international strategy, pledging to reduce trade barriers with other economies in an effort to diversify UK export markets and offset the impact of the US tariffs.

Over the weekend, the prime minister held discussions with several global leaders, including French President Emmanuel Macron. Both agreed that a trade war serves no nation’s interest, though they also acknowledged that “nothing should be off the table.”

Despite the mounting tariff pressure, UK businesses are also bracing for a domestic financial hit as the new National Insurance hike for employers takes effect today—another point of contention raised by the Conservative and Liberal Democrat parties.

The months ahead are likely to prove pivotal as the UK government balances trade negotiations, domestic economic support, and its broader industrial policy to steer through the unfolding global trade turbulence.