Trump's tariff black swan strikes globally! Asian, European, and American stock markets collectively flash crash.

President Trump suddenly announced new tariff rates (ranging from 10% to 41%) just hours before the deadline on August 1, and imposed a 40% punitive tariff on transshipped goods, triggering a massive shock in global financial markets. The US dollar soared rapidly, and stock markets in Asia, Europe, and America all plummeted, with tech stocks being hit hardest. The offshore yuan fell by 0.7% on a weekly basis, marking its worst performance in six months, while the onshore yuan also declined. Amazon's earnings report caused a devastating drop of 6% after hours, while Apple rose by 2% against the trend. Global risk aversion sharply increased, and market panic spread.

Tariff Bomb Detonated: Dollar Soars, Global Stock Markets Plummet

On Friday morning, the US dollar index soared rapidly, while stock markets in Asia, Europe, and America all experienced a big dump. This sudden market storm was triggered by President Trump’s unexpected announcement of new tariff rates (ranging from 10% to 41%) just hours before the tariff deadline on August 1. The updated measures, which officially took effect on Thursday evening, also include an additional 40% punitive tariff on any goods shipped through third countries to evade current tariffs. At this time, global markets were already unsettled due to the weak earnings reports from tech stocks and the upcoming employment report.

• US stock index futures fell broadly: S&P 500 futures fell 0.16%, Nasdaq 100 futures fell 0.23%, and Dow futures fell 67 points (0.15%).
• Tech stocks diverge: Amazon's stock price fell over 6% in after-hours trading due to a bleak outlook on operating income; Apple, on the other hand, saw its stock price rise 2% as its performance exceeded expectations.

Asia is hit hardest: Stock indices plummet, Renminbi exchange rate big dump

As soon as the new tariff measures were announced, the Asian market was the first to suffer a fierce sell-off:

• Nikkei 225 Index: Closed down 243.99 points (0.59%), at 40,825.83 points.
• Korea KOSPI Index (Leading the Fall in Asia): big dump of 117.23 points (3.61%).
• Hang Seng Index: fell by 150.71 points (0.61%); the Hang Seng Tech Index dropped 0.23% amid fluctuations.
• Australia ASX 200 Index: fell 77.40 points (0.89%), closing at 8,665.40 points.
• SSE Composite Index: fell 0.46%.
• India Nifty 50 Index: fell by 72.60 points (0.29%), closing at 24,695.75 points; as of 9:30 IST, BSE Sensex Index fell by 0.34%.

Tech stocks become a hard-hit area:

• Japan: Tokyo Electron (Singapore time 11:00) big dump of 17%, Lasertec down 4.67%, Advantest Corp down 2.51%, SoftBank Group down 2.07%; Renesas Electronics up 0.7%.
• South Korea: SK Hynix fell 5.12%, Samsung Electronics fell 1.92%.
• Taiwan: TSMC plummets 1.72%; Foxconn rises 1.12%.
• Hong Kong: China Petroleum & Chemical Corporation fell by 5%, Zhongsheng Group fell by 3.02%, Li Auto fell by 2.6%.

RMB exchange rate hits the largest weekly fall in six months:

• Offshore Renminbi (CNH): It has fallen 0.7% on a weekly basis since July 25, marking the worst performance in six months.
• Onshore Renminbi (CNY): fell 0.6%, marking the largest decline since February.
• Central Bank Signal: On Friday, the People's Bank of China set the RMB central parity below 7.15, indicating pressure on the exchange rate; traders pointed out that the central bank expanded the gap between the central parity and market estimates for the second consecutive day (previously committing to support the RMB).
• Expert Interpretation: James Liu, a currency strategist at Taikang Capital, stated: "The strengthening of the US dollar has broken the narrow fluctuation range of the RMB, creating new opportunities for short-term operations." Pressure on the RMB exchange rate has significantly increased.

Europe Continues to Fall: Unclear Tariff Details Trigger Panic

The European market opened following the global downtrend:

• Major Stock Indices: The London FTSE 100 index opened down 0.2%, the German DAX index fell 0.6%, the French CAC 40 index was basically flat, and the Italian FTSE MIB index dropped 0.1%.
• Pan-European Benchmark: The Europe Stoxx 600 Index fell 0.3%, and the Eurozone Stoxx 50 Index fell 0.5%.

Tariff details ambiguity becomes the biggest concern: Trump's new tariff structure (especially the 40% punitive tariff on transshipped goods) has caused chaos in global trading platforms. The White House has not clearly defined what constitutes "transshipment," nor has it explained how Washington will enforce it. This policy uncertainty has heightened the market's risk aversion, with investors speculating on the potential depth of its impact.

Despite major companies in Europe such as AXA, Daimler Truck, Melrose Industries, Saint-Gobain, Euronext, IAG, Pearson, and Engie concentrating on releasing their financial reports on Friday, market sentiment has already been dominated by the impact of Trump tariffs.

Conclusion: Trump’s tariff bomb dropped at the last moment, combined with the divergence in tech stock earnings reports and uncertainty in economic data, instantly ignited panic in global financial markets. Asian stock markets were the first to suffer severe bloodbath, with tech giants collapsing collectively; the RMB exchange rate recorded the worst weekly performance in half a year, with depreciation pressure sharply increasing; European markets opened to further declines. The core issue lies in the lack of clarity regarding the implementation details of the 40% punitive tariff on "transshipped" goods, raising significant policy risk concerns. In the short term, market volatility is likely to remain high, and investors need to closely monitor the progress of global trade frictions, Federal Reserve policy trends, and key economic data (such as non-farm employment). Under the dominance of risk aversion, traditional safe-haven assets like the dollar and gold may continue to be favored, while highly valued tech stocks and sectors relying on global supply chains still face severe challenges. This chain reaction triggered by the tariff black swan highlights the vulnerability of global financial markets in the face of political risks.