Thu Apr 10 10:40:00 UTC 2025: ## Trump’s Tariff Wars Trigger $10 Trillion Global Market Crash
**New York/Beijing** – A global stock market rout, triggered by US President Donald Trump’s imposition of sweeping tariffs, wiped out over $10 trillion in market value – a sum exceeding half the European Union’s GDP. The three-day plunge, described as historically significant, dwarfed the market losses seen during the 2020 COVID-19 pandemic and the 2008 financial crisis.
The S&P 500 experienced its worst performance since World War II, suffering three consecutive declines of 4 percent. US tech giants, dubbed the “Magnificent Seven” (Apple, Google, Nvidia, Meta, Amazon, Microsoft, and Tesla), were particularly hard hit, losing a combined $1.6 trillion. Apple alone lost over half a trillion dollars, largely attributed to the tariffs’ impact on its Asian manufacturing base. Other major US companies, including JP Morgan, Eli Lilly, and Walmart, also suffered substantial losses.
The impact extended far beyond US shores. Saudi Aramco lost $138 billion, while European and Asian companies, including Alibaba, Toyota, and Samsung, experienced significant declines.
After days of market turmoil and initial inaction, President Trump abruptly paused the tariff hikes on most countries, sparking a global market rally. However, he simultaneously escalated the trade war with China, raising tariffs on Chinese goods to 125 percent. China retaliated with its own 84 percent tariffs on US imports.
Trump defended his actions, claiming flexibility is necessary and citing concerns about the US bond market as a factor in his decision. He expressed optimism about reaching future trade deals with all countries, including China, despite ongoing retaliatory tariffs. The situation remains highly volatile, with the ongoing trade conflict posing a significant threat to global economic stability.
First Piper 