The global markets were shaken by the introduction of new customs tariffs by Trump. Escapes from the stock markets accelerated, with technology shares plummeting and the dollar weakening. Meanwhile, gold continued its record streak. Donald Trump, the President of the United States, overturned trade and supply chains by announcing customs tariffs that exceeded expectations yesterday. The decision to impose taxes worldwide by the US increased investor anxiety. As a result, markets sharply declined, with investors seeking refuge in safe havens such as bonds, gold, and the yen. Trump announced that they would start implementing at least a 10% reciprocal customs tariff on all countries, including Turkey. The US will impose a 34% tariff on China, 20% on the EU, and 24% on Japan. Additionally, a 25% tax will be placed on cars produced in foreign countries. The European Union and China declared that they would retaliate against the additional US taxes. Technology sector shares took a sharp downturn following the introduction of new customs duties of over 30% on production centers in China and Taiwan, and an increase in taxes to 54% on products imported from China. Apple shares dropped by 6%, Nvidia by 4%, and Tesla by nearly 4.5%. Companies like Alphabet, Amazon, and Meta also experienced a decline ranging from 2.5% to 5%. The total market value of major companies in the technology sector, known as the Fab Five, fell by 760 billion dollars. The Nasdaq index lost over 3%. Nearly every sector, from suppliers to banks, insurers, and exporters, will be affected by Trump’s customs duties. Following Trump’s announcement, investors displayed a tendency to avoid risks, leading to an increase in demand for safe-haven assets. There were significant declines 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 by around 2%. In Japan, the Nikkei 225 index saw a 3% decline, while the Kospi index in South Korea dropped by 0.8%, the Shanghai Composite index in China by 0.4%, and the Hang Seng index in Hong Kong by 1.8%. The imposition of high customs duties weakened the dollar and boosted the value of the euro. Assets considered safe havens, such as the Japanese yen and the Swiss franc, experienced an increased demand. The dollar index dropped by 0.14% to 103. The dollar traded at 147.38 yen, marking a 1.25% decrease. Due to increasing demand for bonds, the US’s 10-year bond yield dropped by 13 basis points to 4.07%. There was also a 2% decrease in oil prices. The ounce of gold reached a record level of $3,168. Thus, the rise in the price of gold exceeded 20% since the beginning of the year.