Global Stock Markets Fall Following New US Import Tariffs

International stock markets have fallen in reaction to a new wave of U.S. import tariffs aimed at protecting domestic industries and addressing long-standing trade imbalances.

European stocks dropped to a three-week low. The pan-European STOXX 600 index fell by about 3 percent on Friday, extending its weekly decline to almost 3.5 percent. It constitutes the biggest drop since the announcement of U.S. reciprocal tariffs by executive order on April 2.