Stocks Down In The Run Up to April 2nd – Asia Market Wrap

Global equities sold off for a fourth day ahead of President Donald Trump unveiling a fresh round of tariffs and mounting concerns about economic impact from a global trade war.

Stocks dropped from Sydney to Hong Kong, with the Nikkei-225 sinking to the lowest level in more than six months. Equity-index futures for the US and Europe slid. Gold touched a fresh record high and US Treasury yields declined, spurred by haven demand.

Money managers around the world are de-risking their portfolios or refraining from taking big positions as they remain wary about the announcement of the so-called reciprocal tariffs and the impact on the economy. Goldman Sachs economists now forecast both the Federal Reserve and European Central Bank will cut interest rates three times this year as the curbs on trade hurt momentum.