Global Markets Slide Amid Trump Tariffs, Gold Hits Record High, and Oil Price Volatility

Global Market Downturn

• 📉 Global stock markets experienced a significant slide, with Japan's Nikkei hitting an 8-month low and South Korean stocks falling nearly 3%.
• 📉 European shares opened sharply lower, and US futures indicated another negative opening, reflecting investor flight from risky assets.

Gold Reaches Record Peak

• 🥇 Gold prices surged to a record high of $3,148, marking its best quarterly performance since 1986 with an 18% rise in the past three months.
• 📈 Other precious metals like platinum, palladium, and silver are also set for monthly gains.

Trump's Trade Policy and Oil Prices

• ⚠️ President Trump threatened to impose secondary tariffs of 25% to 50% on buyers of Russian oil if Russia is perceived as blocking efforts to end the war in Ukraine.
• 🛢️ Despite the warning, oil prices (Brent crude) eased in early trade before slightly increasing, though both main benchmarks are heading for monthly and quarterly falls.

Associated British Foods Stock Drop

• 🏢 Shares of Associated British Foods, owner of Primark, fell sharply following the resignation of its CEO, Paul Merchant, due to allegations of misconduct.
• 💰 Primark contributes half of AB Food's profits, making the situation significant for the company's stock performance.