Trump's tariffs roil markets.

Asian markets fell after President Trump imposed new tariffs on U.S. trading partners, triggering fears of a global recession.

• Japan's Nikkei fell 8%, Hong Kong fell 10%, Taiwan fell nearly 10% and other regional indices followed suit.
• Analysts warn that China could lose up to 2.5 percentage points of GDP, with wider global implications.
• The Dow, S&P 500 and Nasdaq each fell more than 5% in the worst decline since the Cold War sell-off.
• US crude fell 4% to $59.49/barrel.
• The dollar weakened slightly against the yen and euro.

Goldman Sachs: U.S. Recession Likely if Tariffs Hit Full Force

Goldman Sachs warns there's a 45% chance of a U.S. recession—rising sharply if April 9 tariffs fully take effect, pushing effective rates up 20 points.

Even with partial rollbacks, weakening confidence, global backlash, and financial tightening may slow growth. GS expects up to three Fed rate cuts this year to soften the blow.

Full tariffs could tip the U.S. into recession; even less severe scenarios carry serious economic risks.

Source: FT

Several powerful Iranian-backed militias in Iraq are ready to disarm to avoid a potential confrontation with the Trump administration, senior commanders and Iraqi officials told Reuters.

The shift follows private U.S. warnings to Baghdad since Trump took office in January, urging action against armed groups or face possible airstrikes.

Talks between Prime Minister Mohammed Shia al-Sudani and militia leaders are reportedly advanced. Izzat al-Shahbndar, a senior Shi’ite politician, said the factions are showing flexibility and understand the risk of U.S. retaliation.

Commanders from Kataib Hezbollah, Nujabaa, Kataib Sayyed al-Shuhada, and Ansarullah al-Awfiyaa confirmed their willingness to comply, speaking anonymously due to the sensitivity of the issue.

Source: Reuters

📉 Today is Black Monday, Asian Markets Crash, More to Come

Global trade war fears send stocks tumbling across Asia.

Here’s how major markets opened today:

🇯🇵 Japan (Nikkei 225): -9% early plunge, recovered slightly to -6.5%
🇨🇳 China (Shanghai Composite): -6.7%
🇭🇰 Hong Kong (Hang Seng): -10% — worst day since Feb
🇰🇷 South Korea (Kospi): -5%, circuit breaker triggered
🇹🇼 Taiwan (Taiex): -10%, trading suspended
🇸🇬 Singapore (Straits Times): -8.5%
🇦🇺 Australia (ASX 200): -6% open, settled at -3.5%
🇵🇭 Philippines (PSEi): -4%

Reporter: Is there a point where the market pain is too much?

Trump: That’s a stupid question. I don’t want losses, but sometimes you have to take medicine to fix something.

BIG: Backdoor Found in Chinese Robot Dogs

Security researchers have discovered a hidden remote access tunnel in Unitree’s Go1 robot dogs, allowing full remote control and possible access to connected networks.

Used in universities, labs, and even defense, the robots all share this undocumented feature — across all models, from the $2,500 Air to the $8,500 Edu.

Source: Cyber Insider

Trump advisor Peter Navarro:

Vietnam is essentially a colony of Communist China.

Vietnam, don't dump shrimp into our markets and put the good people of Louisiana out of work.

Black Monday: CNBC Host Jim Cramer says the U.S. could face a market crash like 1987’s Black Monday if Trump doesn’t ease his global tariff plan.

“If the president doesn’t reward countries that play by the rules, a 1987-style collapse looks very possible,” he warned, citing the Dow’s 22.6% drop in a single day.

China’s Vice Commerce Minister Ling Ji told U.S. firms including Tesla and GE Healthcare that China will "continue protecting foreign businesses," even as Trump escalates the trade war.

“China has been, is, and will be an ideal, safe, and promising investment ground.”

🇩🇪 Germany’s DAX Index falls 10%.

Rheinmetall AG shares plunge 26.88%, heading for the worst trading day in company history.

European markets open in free fall.

🇫🇷 Paris opens down 6.46%
🇩🇪 Frankfurt plunges 9.15%
🇬🇧 London slides 2.99%

Landing approach of the Chinese 6th-generation fighter J-36 after completing another test flight.

IRGC Animation Forces: Pro-regime media in Iran have released an AI-generated video simulating missile strike on the U.S. base in Diego Garcia.

Pro-Israel woman was seen making throat-slitting gestures toward demonstrators at a London pro-Palestine rally.

Black Monday 1987: What Happened and Why It Mattered

On October 19, 1987, the Dow Jones crashed 22.6% — the largest single-day drop in U.S. history.

The panic quickly spread worldwide, hitting markets in Europe, Asia, and Australia.

Why It Crashed:
• Program Trading: Automated sell orders triggered a market freefall.
• Economic Fears: Rising inflation, trade deficits, and slowing growth spooked investors.
• Currency Turmoil: Confusion over U.S. dollar stabilization deals added uncertainty.
• Overvaluation: Markets had surged since 1982 — many saw a correction coming.

Aftermath:
• Central banks pumped liquidity to calm markets.
• U.S. stocks rebounded faster than expected.
• Circuit breakers were introduced to prevent future meltdowns.

The U.S.-UK “special relationship” is showing cracks in its last stronghold — intelligence cooperation.

• Trump ordered a freeze on sharing U.S. intelligence with Ukraine, even within the Five Eyes alliance.

• While allies condemned the Ukraine decision, the UK stressed ties remain “inextricably entwined.”

• But the experts say that despite the intricate nature of the relationship, it may be necessary for Britain to begin planning for the previously unthinkable if Trump’s America continues to depart from its oldest alliances and once-shared international aims.

Source: Politico

🇭🇰 BIG: Hong Kong Stock Exchange closes down 13.12% — worst drop since 1997.

End of Globalisation

U.K. Prime Minister Keir Starmer will declare the end of globalisation, saying it has failed millions, as Trump’s tariffs shake the global economy.

He will call for faster supply-side reforms and unveil pro-growth plans this week.

Starmer will reject tariffs but acknowledge why Trump’s economic nationalism resonates with voters left behind by free trade and immigration.

A No. 10 official said:

“Globalisation is over.”

Source: The Times

NEW: The new Syrian government will take full control of the wells in the Jazira region east of the Euphrates River, Deir al-Zour Governor Ghassan Ahmed said.