Markets Fall, Dollar Sinks, Gold Soars as Trump Tariff Fears Return

Post by: Omar Nasser

money markets around the world went down again. Stocks fell, the US dollar became weak, and gold price went very high, more than ever before. This happened because US President Donald Trump said that his new trade tax plan might cause short-term trouble.

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Just one day before, people were happy because Trump said he would wait 90 days before putting new taxes on goods from other countries. That made people buy more company shares, and stock prices went up fast. But the happy mood did not last long. On Friday, many saw that the fight between the US and China was not really over. Trump also said he is ready to fight harder if needed. This made people afraid again, and they started selling shares.

In Japan, stock prices dropped over 4 percent. Other places like Hong Kong, Australia, South Korea, Singapore, Taiwan, New Zealand, Indonesia, and the Philippines also went down. Only Vietnam's market went up because the country said they will talk with the US President. In China, the stock market moved up and down. People were waiting to see if China will help its economy with more support.

In the US, stock markets also went down. One big stock group, S&P 500, dropped by 3.5 percent. The Dow Jones went down by 2.5 percent, and the Nasdaq fell by 4.3 percent. These losses took away most of the gains from the day before.

It was not just stocks that dropped. The US dollar lost value against other money types like the yen, euro, pound, and Swiss franc. Usually, people keep dollars in times of worry, but this time, they left the dollar and moved their money somewhere else. Gold became very valuable again, going above $3,200 per ounce, because people see gold as safe. Oil prices also went lower because people worry about a world money slowdown.

A money expert, Chris Weston, said people all over the world are trying to take their money out of the US. He said Trump’s 90-day wait may not be a good sign. It might mean there are deeper problems. Another expert, Michael Krautzberger, said the fall of the dollar may show that people are losing trust in it. He said that if this keeps going, some countries might sell the US bonds they own. That could make things worse. If this trade fight turns into a money fight, it could be very serious.

President Trump said he wants companies to return to the US. He also wants other countries to open their doors more to US goods. He said there might be problems now, but in the end, everything will be good. Trump said the US economy will grow strong again.

Another US official, Howard Lutnick, said good days are coming. He said the US will protect its business, talk with other countries, and grow faster. But Trump also warned that if no deal is made after 90 days, the big taxes will come back. He said, “If we can’t make the deal we want, we’ll go back to before.”

At the same time, market numbers kept changing. Japan's market was down over 4 percent. Hong Kong was down 1 percent. Shanghai was a little down. The dollar dropped to 143 yen. The euro and pound both became stronger. Oil also lost value. In New York, the Dow Jones dropped 2.5 percent, but in London, the market went up by 3 percent.

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