Daily Summary
US stocks and global markets suffered amid fears of new U.S. tariffs and policy unpredictability, with major indices posting their worst quarterly performances in years while investors sought safety in gold. President Trump signed a plan to impose higher tariffs on all US trading partners, potentially leading to higher prices and retaliatory measures. In related news, Primark CEO Paul Marchant resigned after admitting an "error of judgment" in his personal conduct.
Global Markets in Turmoil as Wall Street Endures Worst Quarter Since 2020
Global markets are in turmoil with Wall Street experiencing its worst quarter since 2020 due to fears of a global trade war and erratic U.S. policies, prompting investors to seek refuge in assets like gold.
President Trump Signs New Tariff Plan for All US Trading Partners
President Trump signed a measure to impose tariffs on all US trading partners, matching foreign duties to address an unfair trade system. The move could lead to higher prices in the US and prompt retaliatory actions from other nations.
US Stocks Suffer Worst Quarter Since 2022 Amid Tariff Fears
US stocks hit their worst quarter since 2022 as the S&P 500 fell 4.6% in Q1 2025 amid fears of new tariffs from President Trump. While European markets outperformed, Asian markets experienced mixed results.
Primark CEO Paul Marchant Resigns After 'Error of Judgment' Incident
Primark CEO Paul Marchant resigned after admitting to an 'error of judgment' during a social interaction with a woman, a decision confirmed by Associated British Foods.