CNN 5 Things
Global markets turmoil, Texas measles death, Palestinian American teen killed & more
Apr 7, 2025
Global stock markets are reeling due to tariff announcements, with significant declines noted in Asia and Europe. Meanwhile, tragic flooding in Kentucky has devastated communities. A measles outbreak in Texas has led to the death of a second child, raising urgent calls for vaccination. Tensions escalate internationally as a Palestinian American teenager is killed by Israeli soldiers. On a lighter note, highlights from the Women’s NCAA basketball tournament provide a much-needed sports diversion.
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Quick takeaways
- The imposition of tariffs by President Trump has led to a significant decline in global stock markets, raising fears of a recession.
- Severe flooding in Kentucky has prompted a state of emergency, resulting in tragic fatalities and widespread evacuations across affected communities.
Deep dives
Impact of Tariffs on Global Markets
Recent announcements of tariffs by U.S. President Donald Trump have led to significant declines in global stock markets. Following the imposition of at least 10% tariffs on all imports, Asian markets, including Japan's Nikkei, saw losses of nearly 8%, reflecting a broader trend of selling that has wiped out over $5.4 trillion in market value. Investors are concerned that these tariffs could trigger a global recession, negatively affecting demand for transportation, travel, and other fuel-dependent industries. In response, China has announced reciprocal tariffs of 34% on U.S. imports, escalating tensions and uncertainty in international trade.
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