Global markets were rocked by Trump’s new import duties. Escapes from stock markets accelerated. Technology shares plummeted, and the dollar weakened. Gold continued its record streak. U.S. President Donald Trump upset trade and supply chains by announcing import duties above expectations yesterday. The decision to levy taxes worldwide increased investor anxiety. The stock markets sharply declined, leading investors to seek refuge in bonds, gold, and the yen. TRUMP IMPOSING ADDITIONAL TAXES ON ALL COUNTRIES Trump announced that they would start imposing at least a 10% mutual import tax on all countries, including Turkey. The U.S. will impose a 34% duty on China, 20% on the EU, and 24% on Japan. Additionally, a 25% tax will be imposed on cars produced in foreign countries. The European Union and China expressed their intention to retaliate against U.S. additional taxes. TECHNOLOGY SHARES PLUNGED Technology sector shares tumbled sharply following the imposition of over 30% new import taxes on China and Taiwan manufacturing centers, and raising taxes on products imported from China to 54%. Apple shares dropped by 6%, Nvidia by 4%, and Tesla by approximately 4.5%. Alphabet, Amazon, and Meta saw a decline between 2.5% and 5% in their shares. The market value of the major companies in the technology sector known as the Fabulous Seven dropped by a total of $760 billion. The Nasdaq index lost over 3%. Almost every sector, from suppliers to bankers, insurers, and exporters, will be impacted by Trump’s import duties. INVESTORS AVOIDING RISK Following Trump’s announcement, investors have shown a tendency to shy away from risk and demand for safe-haven assets increased. Sharp declines were observed in stock markets. Nasdaq futures fell by 3.3%. S&P 500 futures by 2.7%, FTSE futures by 1.6%, and European stock futures also dropped by about 2%. In Japan, the Nikkei 225 index fell by 3%, in South Korea, the Kospi index by 0.8%, in China, the Shanghai Composite index by 0.4%, and in Hong Kong, the Hang Seng index by 1.8%. DOLLAR WEAKENS, GOLD HITS RECORD High import duties weakened the dollar, while the euro gained strength. Assets perceived as safe havens such as the Japanese yen and the Swiss franc saw increased demand. The dollar index fell by 0.14% to 103. Dropped by 1.25% to 147.38 against the yen. With increasing demand for bonds, the 10-year U.S. bond yield fell by 13 basis points to 4.07%. A 2% drop was recorded in oil prices. The price of an ounce of gold hit a record level of $3,168. This rise in the yellow metal has exceeded 20% since the beginning of the year.