In Europe, the FTSE fell 352 points (4.38%), the DAX fell 852 points (4.13%) and the CAC fell 347 points (4.78%).
Asian markets went into meltdown with The Hang Seng falling 13% and the Nikkei falling 7%.
Falling commodity prices will be bad for Australia.
EU expected to make a statement on tariff retaliatory measures soon.
In the US, the DOW fell 349 points (.91%), the NBI fell 47 points (1.22%), the NASDAQ Composite rose 15 points and the Russell small cap index fell 16 points (.92%)
Interesting movement on the US markets with a rollercoaster ride. Rumour that Trump would pause tariffs for 90 days (except for China) caused markets to rise. This rumour was quashed by the White House and markets went into decline again.
Trump announced an additional 50% tariff on China to come into force on April 9th if China did not remove its retaliatory 34% tariff on US goods.
US Treasury 10 year bond yield rose to 4.216%
Oil prices fell - Brent crude is at US$64.44 per barrel.
Precious metal prices slumped - gold is at US$2,973 per oz. Fall in the gold price is of interest as it is supposed to be a hedge against inflation.
BITCOIN price fell to US$78,380. All crypto currencies fell overnight.
IMU Price at posting:
2.4¢ Sentiment: Buy Disclosure: Not Held
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