Bloomberg Daybreak: Europe Edition Tariffs Fuel Market Meltdown, Recession 'Expected', Trump Open To Trade Deals
Apr 4, 2025
Asian shares see a steep decline, marking a two-month low, as investors flee to safer assets amid tariff uncertainties. The implications of Trump's trade measures are causing global market jitters, with economists warning of recession risks. French President Macron responds to the U.S. tariffs by urging EU businesses to reconsider spending in America. Additionally, talks emerge around reducing tariffs with the UK, highlighting potential negotiation pathways amidst rising global trade tensions.
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Market Meltdown
- Global stock selloff deepens as investors flee risk assets due to Trump's tariffs.
- Asian shares hit a two-month low, with US and European futures indicating further losses.
Expert Opinions on Sell-off
- Evercore ISI's Rich Ross believes the sell-off is escalating into a crisis, with optimistic signs proving deceptive.
- Bill Gross advises against dip-buying, cautioning against trying to "catch a falling knife."
Economic Impact of Tariffs
- Economists warn that Trump's tariffs increase uncertainty and recession risk.
- Bob Michael predicts a recession due to the tariffs acting as a tax on businesses and households.