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Markets were hit hard on Monday as President Trump’s latest trade war announcements shook global economies.

Chinese state holding companies vowed on Tuesday to increase share investment while a slew of listed firms announced share buybacks as Beijing stepped up efforts to stabilise a stock market rocked by U.S. tariff woes. The announcements by companies including China Chengtong Holdings Group and China Reform Holdings Corp come a day after state fund Central Huijin said it would increase share holdings to steady markets. China's stock market rebounded on Tuesday, clawing back some of Monday's 7% slump, which was fuelled by trade war and global recession fears.

On April 7, 2025, the markets were thrown into turmoil after a false report claimed that President Donald Trump was considering a 90-day pause on global tariffs.

The total crypto market capitalization has dropped by 30% from its peak in December 2024, falling from $3.9 trillion to $2.7 trillion by April 2025.

Changpeng “CZ” Zhao, former CEO of Binance, has joined Pakistan's newly formed Crypto Council as a strategic advisor.

"The anxiety is if these tariffs are as big as what are threatened on the U.S. side, and if there's massive retaliation, and then if there's counter-retaliation again, it might send us back to the kind of conditions that we saw in '21 and '22 when inflation was raging out of control," Goolsbee said in an interview with CNN. However, he also acknowledged the uncertainty around the outcomes and the possibility that negotiations could lead to new trade agreements and avoid tariffs of more than 100%, referring to U.S. Treasury Secretary Scott Bessent's pledge of a "golden age of trade". Global stocks have plummeted since Trump announced a set of sweeping tariffs last week, triggering an escalating trade war.

The stock market tumble could have more room to run as tariffs continue to wreak havoc, Morgan Stanley's Mike Wilson said.

Japan's Nikkei share average closed 6% higher on Tuesday, recovering from a 1-1/2-year low hit in the previous session, as investors scooped up stocks, encouraged by signs of a recovery on Wall Street. The Nikkei index climbed 6.03% to 33,012.58, marking its sharpest daily percentage gain since August 6. The broader Topix also recorded a more than 6% gain, closing at 2,432.02.

World shares and U.S. futures advanced Tuesday, led by gains in Tokyo where the Nikkei 225 shot up just over 6% as markets calmed somewhat after the shocks from President Donald Trump ’s tariff hikes. The modest rebound for most markets followed a wild day on Wall Street, where stocks careened after Trump threatened to crank his double-digit tariffs higher. Early Tuesday, China's Commerce Ministry said it would “fight to the end” and take unspecified countermeasures against the United States after Trump threatened another 50% tariff on Chinese imports.

The dramatic moves intraday — and the flimsy basis for the sudden rally — show how starved investors are for good news that could stop the sell-off.