The meeting, scheduled for 4:30 PM Lisbon time, will be held behind closed doors, but the Federal Reserve’s leadership is expected to release a statement on the matters discussed on its website.
China’s response to the tariffs announced on Wednesday by U.S. President Donald Trump has heavily impacted global stock markets, triggering fears among investors of a global recession.
In Asia, Tokyo’s stock exchange saw a nearly 8% drop, while Hong Kong’s main index fell by 13.2%, marking its most significant decline since the 2008 financial crisis.
European markets, initially opening with losses around 6%, eventually moderated their losses to a range between 3.20% and 4.60%.
Markets continue to be influenced by the tariffs imposed by Trump on the United States’ trading partners and the retaliatory measures announced by China. Such actions might prompt similar responses from other major economies, like the European Union (EU).
President Trump unveiled reciprocal tariffs on April 2 against U.S. trading partners but expressed willingness to negotiate if the offers are “phenomenal.”
Today, Trump renewed his call for the Federal Reserve to lower interest rates, accusing China of being the “greatest abuser” after Beijing responded to Washington with a reciprocal 34% increase.
