Financial markets around the world fell after President Trump announced a Wednesday a Barage of new tariffswith an American future stock, pointing to a sharp fall when Wall Street opened for a job.

About two hours before the start of the store at 9:30 ET, the future for the S&P 500 fled 190 points, or 3.3%, while the future for the industrial average of Dow Jones and the technologically heavy Nasdaq composite index sank 3%and 4%.

The overseas markets also went down in the store overnight. In Asia, the Tokyo Index of Nikkei 225 briefly fell 4%, and car and car manufacturers scored big goals before closed 2.8%, while the reference value of South Korea dropped 1.1%. In Europe, German Dax fell 1.7%, the French Cac 40 in Paris lost 1.8%and British FTSE 100 spilled 1.2%.

Gold prices briefly reached a record high level of $ 3,167 before they have been drew while investors have digested the influence of escalated trade war of the White House.

“Stock stocks in all markets, while the world responds to Trump’s worse (and absurd) trade war,” analyst Adam Crisfuli, a vital knowledge chief in a research note, told investors.

Mr. Trump said the US would impose 10% basic tariff on all US trade partners starting on April 5. Four days later, the US are also set up Apply reciprocal tariffs to about 60 countries.

Although US markets collapsed on Wednesday as investors hoped for more restrained trade policies from the White House, reality is now bitten by an concern that the economy could extinguish and possibly enter into a recession.

“Trump’s administration has accepted the shock-therapy approach to tariffs, imposing a very high tariff with all its main shopping partners.” Analysts with Societe General said in a report on Thursday.

They added: “These tariffs are undoubtedly worse than some of the worst scenarios provided earlier, both at the overall and economic levels by economy. This set of tariffs, if persisted, would very probably get tangled on a global recession.”

contributed to this report.