· 2 min read
illuminem summarises for you the essential news of the day. Read the full piece on BBC News or enjoy below:
🗞️ Driving the news: Global stock markets slumped on Thursday in response to sweeping new U.S. tariffs announced by President Donald Trump
• Major indices in Europe and Asia posted sharp losses, with investors fearing inflation, disrupted trade, and slower economic growth
• Gold prices surged to a record $3,167.57 an ounce as investors sought safe havens
🔭 The context: The tariffs include a baseline 10% levy and much higher duties on goods from countries like China (54%) and Vietnam (46%), reversing decades of trade liberalisation
• European firms were also hit, with the EU and Switzerland targeted
• Major global brands such as Adidas, Puma, LVMH, and Pandora saw share prices plunge due to their exposure to affected markets
🌍 Why it matters for the planet: These tariffs could increase the cost of sustainable goods and green technologies, especially if supply chains for low-emission products are disrupted
• Economic slowdowns may weaken investment in climate initiatives
• Heightened trade tensions risk derailing international cooperation essential for addressing global environmental challenges
⏭️ What's next: Markets await the U.S. opening bell, with futures pointing to steep drops in the S&P 500 (-3%) and Dow Jones (-2.4%)
• Analysts fear further volatility if retaliatory tariffs are announced
• Economists warn the tariffs could tip the U.S. and global economy into recession if prolonged
💬 One quote: “This is the worst-case scenario — enough to potentially send the U.S. into a recession,” — Jay Hatfield, CEO, Infrastructure Capital Advisors
📈 One stat: The FTSE 100 fell 1.5%, Germany’s DAX dropped 2.2%, and France’s CAC 40 lost 2.5% on Thursday
See here detailed sustainability performance of companies like Adidas, Puma, LVMH, and Pandora
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