New U.S. import tariffs shake global markets as investors cautiously buy the dip

Global stock markets today are being driven mainly by the fallout from newly implemented U.S. import tariffs and the subsequent attempt at a rebound after Monday’s sharp selloff. The key macro development is the start of new 10% tariffs on a wide range of global imports under Section 122, with the administration signaling plans to lift these duties further to 15%. This escalation in trade barriers has raised concerns about slower global growth, higher costs for businesses and consumers, and potential retaliation from trading partners. Those worries triggered a broad market decline on Monday as investors reassessed corporate profit outlooks and global supply chain risks. Today, markets are stabilizing and attempting to recover part of those losses. Major U.S. indices are mixed but relatively flat, reflecting a cautious tone: the S&P 500 is roughly unchanged, while the Dow and Nasdaq are slightly higher. The rebound suggests investors may see the initial tariff-driven selloff as somewhat overdone, but the underlying uncertainty around global trade policy remains a key overhang for risk assets worldwide. Overall, the dominant driver for global equities is the new tariff regime and its implications for global trade, inflation, and corporate earnings. Short-term price action shows a modest recovery, but sentiment is still fragile as markets weigh the risk of a broader slowdown against hopes that policymakers may eventually moderate or clarify the tariff path.