Good morning from the Financial Times.
Today is Friday, April 4th, and this is your FT news Briefing.
It is a new era in global trade.
US President Donald Trump's tariffs sent markets into a tailspin yesterday.
The scale of what we saw and also the manner in which it was presented definitely has unnerved investors.
And his trade policy has left the US economy on shaky ground.
There are some economists now that see outright declines in GDP towards the end of this year.
I'm Marc Filippino and here's the news you need to start your day.
The tariffs Donald Trump announced on Wednesday rocked global markets.
There were major stock selloffs yesterday, with significant drops in Europe's Stoxx 600,
the UK's FTSE 100 and Japan's Nikkei 225.
In the US, the S&P 500 ended the day down nearly 5.
I'm joined now by the FT senior Markets correspondent Ian Smith to discuss the prognosis.
Hey, Ian.
Hi, Mark.
So, Ian, the reason I say prognosis is based on something Trump posted on social media on Thursday.
He said, quote, the operation is over.
The patient lived and is healing.
Why weren't markets as optimistic?
So, yeah, the patient has certainly taken a bit of a beating.