International stock markets have plummeted overnight due to apprehensions of a global trade war following US President Donald Trump’s sweeping tariffs, which he referred to as “medicine.” Japan’s Nikkei 225 index dropped nearly 8%, Australia’s S&P/ASX 200 decreased by more than 6%, while South Korea’s Kospi fell by 4.4%. US stock market futures have also shown signs of weakness, with the S&P 500 and Dow Jones Industrial Average futures declining, and the Nasdaq futures losing 5.3%. Trump warned foreign governments that they would have to pay “a lot of money” to lift his tariffs, stating that although he doesn’t want anything to decline, sometimes measures are needed to rectify issues. Meanwhile, Trump has spoken to various world leaders, emphasizing his stance against trade deficits. Despite the backlash, investors are still uncertain if the tariffs will become a permanent measure or serve as a bargaining chip.

Source: https://news.sky.com/story/international-stock-markets-tumble-as-trump-calls-tariffs-medicine-13343658