Global markets retreat as tariff hike triggers risk-off sentiment

Global equity markets are experiencing significant volatility, driven by a broad sell-off in the technology sector, particularly in Japan and Russia. This market instability is compounded by new US tariff threats against Canada over wildfire smoke and against Brazil on energy equipment, alongside escalating geopolitical tensions involving the US and Iran. The full extent of systemic contagion and the long-term impact of these tariffs remain uncertain.