Trump tariffs slam markets, stunned investors brace for slow growth, retaliation

Global investors grappled on Thursday with rising chances of an economic downturn and a sprawling trade war, as they scrambled for safe-haven assets to buffer against fallout from U.S. President Donald Trump's sweeping tariffs.

Markets were stunned late on Wednesday when Trump announced Washington's steepest trade barriers in more than 100 years. The move slammed stock markets and the dollar as investors sought safety in assets like bonds and the Japanese yen.