Institution: Trump's "tariff storm" sweeps the globe, Asian markets continue to experience dumping.

[Institution: Trump's "Tariff Storm" Sweeps the Globe, Asian Markets Continue to Experience Selling] Due to the market's difficulty in digesting last week's earthquake-like tariff shocks, Asian stock markets suffered widespread declines today. Taimur Baig, chief economist at DBS Bank, stated, "Risk aversion and market selling seem to be far from over," as concerns linger about additional measures being implemented. The U.S. may raise secondary tariffs, while regions and countries like the European Union may target U.S. service exports. In a report, he wrote that the Federal Reserve (FED) will be pressured to cut interest rates, despite inflation still being well above target levels, posing a potential threat to global financial stability. DBS Bank believes there is a 45% chance that economic growth will be below trend while inflation remains above trend. The institution estimates a 35% chance of a recession in the U.S., which would put pressure on the outlook for export-dependent economies in Asia.