Asian shares were sharply lower on Monday as worries are building over a potentially toxic mix of worsening inflation and a U.S. economy slowing because households are cautious to spend.

The new tariffs announced Wednesday by U.S. President Donald Trump were met initially with measured reactions from key trading partners, highlighting the lack of appetite for a full-fledged trade war.

U.S. stocks whipped through another dizzying day of trading, but the mood on Wall Street turned sour after President Donald Trump unveiled sweeping new tariffs against nearly all

Trump has vowed to impose “reciprocal tariffs” on all nations that he claims disadvantage American products through trade, tax, or regulatory policy.

Donald Trump has dropped a tariff hammer on America’s trading partners, announcing a sprawling set of import taxes that are expected to significantly raise prices for U.S. consumers. The president and his allies heralded April 2 as a historic “Liberation Day” for the United States.

President Donald Trump's move to slap a 10% tariff on most goods imported to the United States, as well as much higher levies on dozens of rivals and allies alike, has intensified a global trade war that threatens to stoke inflation and stall growth.

U.S. stocks swerved through another shaky day of trading Tuesday, with uncertainty still high about just what President Donald Trump will announce about tariffs on his “Liberation Day” coming Wednesday.