April 3, 2025 9:29 AM
Global stocks slump as US tariffs hit tech hardest
Stocks dived and investors scrambled to the safety of bonds, gold and the yen on Thursday as U.S. President Donald Trump unveiled a bigger-than-expected wall of tariffs around the world's largest economy, upending trade and supply chains. The high-flying tech sector was pummelled as manufacturing hubs in China and Taiwan faced new tariffs above 30%, bringing the total new levy to an eye-watering 54% on imports from China. "The U.S. effective tariff rate on all imports look to be the highest le...