The market faced losses due to Trump's tariff proposals, with focus on further tariff developments.

From Investing.com: 2025-04-07 02:41:00

US equity markets took a hit due to President Trump’s tariff proposals, sparking global growth concerns. Federal Reserve Chair Jerome Powell noted the tariffs’ impact and emphasized the need to monitor inflation. This upcoming week will focus on further tariff developments, US jobs data, and central bank decisions in Australia and New Zealand. Technical analysis shows that the Nasdaq 100 has entered a bear market, down 20% from all-time highs. Meanwhile, developments this week saw J.P. Morgan increase their estimates to 60% for a global recession by year-end.

The past week saw US equity markets suffer significant losses after President Trump’s tariff proposals. China retaliated with an extra 34% tariff on US goods, intensifying trade war fears. Big tech stocks plummeted, pushing the Nasdaq closer to a bear market territory. Federal Reserve Chair Jerome Powell expressed concern over the tariffs’ impact on inflation and economic growth. The US dollar strengthened against major currencies, while commodities like gold and oil experienced volatility. Market participants are eagerly awaiting further tariff developments and central bank decisions in the coming week.

Looking ahead, the focus shifts to U.S. President Trump’s tariff plans, US jobs data, and central bank meetings in Australia and New Zealand. In the Asia Pacific region, China’s low inflation may prompt a rate cut by the PBoC. The Bank of Japan is monitoring wage data for a potential rate hike. The Reserve Bank of New Zealand is expected to cut rates by 25 bps. In developed markets, the US faces challenges from trade policies, while the UK’s economic outlook remains positive despite challenges. The Nasdaq 100 has entered a bear market, with support levels at 17000 and resistance at 17737.



Read more at Investing.com: Markets Weekly Outlook – FOMC Minutes, Tariff Developments and Inflation Ahead