World leaders 'Dying To Make Deal',Trump defends tariffs

As global stock markets plunged on Monday, US President Donald Trump defended his controversial tariff policies, dismissing concerns over their economic impact. He said that world leaders are “dying to make a deal” to negotiate the reciprocal tariffs.On Sunday, Trump denied any intent to deliberately engineer a market sell-off, insisting that he could not predict market reactions. He emphasized that he would not enter trade agreements with other countries unless they addressed the trade deficits. “Sometimes you have to take medicine to fix something,” Trump said, referring to the market volatility.
Since the onset of his tariff policies, trillions of dollars in market value have been wiped off the books of US companies, with investors bracing for further fallout. Trump added that any market adjustment would be “temporary,” soft-pedaling the severity of the situation. Speaking to reporters aboard Air Force One, the US President added that he had been in contact with world leaders over the weekend and claimed that many countries were eager to negotiate a deal.
Recent tariff policies implemented by the United States have triggered significant reactions in global markets, leading to a dramatic sell-off worldwide. Major indices, like the Nasdaq-100, S&P 500, and Nikkei 225 futures, saw big declines, with Nikkei futures triggering circuit breakers. Futures markets quickly priced in almost five quarter-point interest rate cuts in the U.S. this year, leading to a sharp drop in Treasury yields and a weaker dollar.  
The key trigger behind Monday’s crash is the escalating trade conflict between the world’s two largest economies, the US and China. After the U.S. raised tariffs, China responded with duties on several American products, causing the Chinese stock market to fall 10 percent at the opening. President Trump’s comments that investors “have to take their medicine” and that no deal with China would happen until the U.S. trade deficit was fixed added to the uncertainty. The panic spread across markets, with Asia seeing the biggest losses. Japan’s Nikkei dropped 7 percent, South Korea’s Kospi fell 5 percent, and Hong Kong’s Hang Seng lost over 10 percent. The negative sentiment also hit India, where the Sensex and Nifty were down more than 3.5 percent in the morning trade.
Despite the turmoil, Trump defended his tariffs, saying world leaders were eager to make a deal. These events have raised concerns about possible instability in the markets, with some predicting a downturn on Wall Street. Selling pressure was seen across most Asian markets. Tokyo, Shanghai, Bangkok, Seoul, and Hang Seng indices fell by up to 11 per cent.
Oil prices have also plunged amid global uncertainties, especially after Saudi Arabia issued its biggest price cut on the commodity in years. Brent crude slipped 2.67 per cent to $63.82 a barrel, while West Texas Intermediate fell 2.69 per cent to $60.31.