Asia Stocks Fall, Gold Reaches Record High Amid Tariff Concerns
Asian stocks fell on March 28 amid fears of escalating trade wars following Trump's new auto tariffs, while gold hit a record high as investors turned to safe-haven assets.
Published on March 28, 2025
On March 28, Asia's major stock markets tumbled as investor anxiety grew over U.S. President Trump's announcement of a 25% tariff on auto imports, effective next week. Markets in Japan and South Korea suffered losses of around 2%, while European and U.S. futures signaled further declines.
Investors sought safety in gold, which surged by 0.77% to a record high of approximately $3,079.5 per ounce, marking a 17% quarterly increase—the strongest performance since 1986. The safe-haven demand comes as concerns mount over the potential for escalating global trade conflicts and economic uncertainty, with additional market watchers eyeing upcoming U.S. inflation data and potential shifts in monetary policy.