Asian Markets Recover on Wall Street Gains Amid Tariff Fears
Asian markets recovered on Tuesday following Wall Street gains, even as looming tariffs from President Trump heightened concerns over inflation and economic slowdown. Led by mixed performances across the region, safe-haven assets like gold also saw significant price increases.
Published on April 1, 2025
Asian shares bounced back on Tuesday, following gains on Wall Street even as uncertainty over impending tariffs weighed on global markets. Markets in Tokyo, Hong Kong, and South Korea posted modest increases of 0.1%, 1.1%, and 1.8% respectively, helping to offset a mixed performance in U.S. equities where the S&P 500 and Dow Jones advanced while tech stocks like Tesla and Nvidia lagged. Gold reached approximately $3,172.80 per ounce as investors sought safe-haven assets.
The rebound came ahead of U.S. President Donald Trump's planned tariff announcement on April 2, which has sparked concerns over rising inflation and a potential slowdown in economic growth, raising recession odds to 35%. Supplemental reports from Reuters and Associated Press on April 1 noted that the markets were closely watching the developments, with treasury yields falling and currencies such as the Japanese yen strengthening amid the risk-averse sentiment across global markets.