Fri Apr 04 18:20:00 UTC 2025: ## Trump’s Tariffs Trigger Global Market Tumult, Delaying Nintendo Switch 2 Preorders

**Washington/London/Kyoto** – President Donald Trump’s sweeping new tariffs have sent shockwaves through global markets, causing the worst day for US stocks since June 2020 and the largest daily drop in London’s FTSE 100 since the start of the COVID-19 pandemic. China retaliated with its own tariffs on American goods, adding to the uncertainty and fueling fears of a recession.

The fallout extended to the tech world, with Nintendo delaying US pre-orders for its highly anticipated Switch 2 console. The company cited a need to assess the potential impact of the tariffs and evolving market conditions, pushing back the preorder date indefinitely while maintaining the June 5th, 2025, launch date.

Senate Minority Leader Chuck Schumer criticized the tariffs, urging Republicans to support bipartisan legislation limiting the President’s power to impose future levies. He warned that the erratic nature of the tariffs and retaliatory measures from countries like China are creating uncertainty that undermines business confidence and could trigger a recession.

Federal Reserve Chair Jerome Powell echoed these concerns, stating at a conference that the tariffs are likely to increase inflation and slow economic growth. While the exact impact remains uncertain, Powell emphasized the need for a cautious approach to monetary policy, suggesting the Fed will wait for more clarity before making any adjustments.

The widespread anxiety among businesses underscores the significant impact of Trump’s trade war, leaving both economists and businesses grappling with the potential long-term consequences of this protectionist approach.

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