Stocks Continue to Drop Amid Growing Tariff Fears – Europe Market Wrap

Global stock markets fell, with S&P 500 futures down 1% on the closing day of a tumultuous quarter, as concerns about the impact of US tariffs grew. Gold broke a record, and treasuries rallied.

Nasdaq 100 contracts fell 1.4%. Nvidia and Tesla fell more than 3% in premarket trade. Europe’s Stoxx 600 index fell 1.2%, while Asian equities suffered severe losses, with Japan’s Nikkei 225 index dropping 4% and Taiwan’s stock index sliding into correction.

The concern that tariffs could harm the global economy has sent the S&P 500 down 5.1% in the first quarter, the worst since 2022, wiping down approximately $5 trillion in US shares since late February.

Trump’s reciprocal tariff push is scheduled to begin on April 2nd. In comments cited by NBC News, the US president reportedly threatened to restrict “all oil coming out of Russia.”