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Weekly Macro & Markets View

What were the key global economic data releases, what is Zurich’s view and what does this mean for financial assets?

Weekly Macro and Markets View, Week 15

Highlights and View

  • US tariffs are set to rise to the highest level in a century
    This would be a massive drag on the economy and significantly increases the risk of a recession.
  • China announces 34% retaliatory tariff on US goods, pushing total tariffs to 50%
    This marks a sharp escalation from Beijing, heightening the risk of a trade war between the two countries.
  • Global equity markets plunge, with the tech-heavy US Nasdaq index entering a bear market
    Investors capitulated last week, selling heavily. US markets led the decline, though the sell-off was global in nature as revenues and margins are threatened by tariffs.

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