Global financial markets were hit by a sweeping selloff after President Donald Trump’s bid to remake the world trading order proved more aggressive than expected. Footwear and apparel companies such as Adidas AG and Puma SE fell almost 10% as hefty tariffs on Vietnam and other critical production hubs threatened their supply chains. Asian stocks posted heavy losses earlier in the day, with Tokyo’s Nikkei index losing almost 3%. US assets were among the worst affected, with futures on the S&P 500 slumping almost 3% and Bloomberg’s dollar index dropping more than 1% to a five-month low. Big US technology names were among the biggest losers in premarket trading with Apple down more than 6$, Amazon, Nvidia and Tesla all fell more than 3%. Gold hit new highs amid investors’ flight to haven assets, while 10-year Treasury yields dropped to the lowest level in more than five months and the yen strengthened.
Today’s guests: Leslie Vinjamuri, Chatham House; Jonathan Reynolds, UK Business & Trade Secretary; Beata Manthey, Citigroup; Amur Lakshminarayanan, Tata Communications CEO; Bernd Lange, EU Parliament International Committee Chair
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – Market check
00:02:04 – The Pulse with Francine Lacqua
00:02:39 – Roundtable: Breaking down Trump’s tariff announcements
00:06:39 – Leslie Vinjamuri, Chatham House
00:12:32 – Jonathan Reynolds, UK Business & Trade Secretary
00:21:24 – Beata Manthey, Citigroup
00:35:29 – Amur Lakshminarayanan, Tata Communications CEO
00:44:46 – Bloomberg TV guests react to Trump’s tariff plans
00:45:43 – Bernd Lange, EU Parliament International Committee Chair
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News post in April 3, 2025, 12:07 pm.
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