On Wednesday, the Nasdaq fell 3.1% following the news that Nvidia will require licences to export its popular H20 AI chip to China. US officials advised the firm that the licence requirement will “be in effect for the indefinite future.” Nvidia shares tumbled nearly 7% on the day and have fallen further over the Easter weekend.
Trump set out the full details of his ‘reciprocal’ tariffs after the markets shut on Wednesday evening. The response during trading on Thursday and Friday was unequivocal and markets across the globe suffered their steepest decline since the pandemic. On Friday the S&P fell 6%, the FTSE 100 dropped 4.95% and in Japan the Nikkei was down 7.8% when trading closed this morning.
In March 2025, global financial markets were unstable due to economic uncertainty and changing tariff policies, which made investors anxious. The Trump administration’s bold trade plans, especially new tariffs introduced in April, caused significant market changes. This summary looks back at what happened in March and how things have developed by April 2025, including the latest market responses and economic effects.
Trump set out the full details of his ‘reciprocal’ tariffs after the markets shut on Wednesday evening. The response during trading on Thursday and Friday was unequivocal and markets across the globe suffered their steepest decline since the pandemic. On Friday the S&P fell 6%, the FTSE 100 dropped 4.95% and in Japan the Nikkei was down 7.8% when trading closed this morning.
Over the past year, US stocks have delivered strong returns, but much of the gains have come from a select few tech giants. The ‘Magnificent Seven’ – Apple, Microsoft, Amazon, Alphabet, Nvidia, Meta, and Tesla – have been the driving force, fuelled by the AI boom. However, cracks are starting to show….
February’s UK public finance data, published on Friday, showed the government borrowed £10.7bn. That’s £4.2bn more than the Office for Budget Responsibility had estimated, and the fourth highest borrowing for a February since records began in 1993 (the three others occurred during the global financial crash and covid).
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