US equity futures sharply lower, with S&P futures down 3.4%. European equities sharply lower and Asian equities suffered their worst declines since 2008. Markets remain pressured by ongoing tariff concerns, with Trump dismissing recent volatility and reiterating tariffs as structural measures aimed at trade rebalancing and funding. Multiple countries expressed openness to negotiations, but uncertainty persists given Trump’s commitment to aggressive tariff policy. Meanwhile, China state media indicated possible frontloading of stimulus measures, including RRR and interest rate cuts. Asian authorities intervened to stabilize markets, with Taiwan temporarily banning short selling and RBI expected to provide significant cash injections.

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