President Donald Trump’s weekend announcement of tariffs on Mexico, Canada and China translated into a shock for market-based inflation expectations, prompting traders to now expect an annual headline rate from the consumer-price index that’s closer to 3% for much of 2025.

Global markets buckled up for a turbulent session Monday after Trump launched a trade war with sweeping tariffs on Canada, Mexico, and China.

U.S. President Donald Trump's initial tariff actions against Canada, Mexico and China sparked a rise in broad market volatility and a rush to take guard against increased ructions across asset classes from stocks to currencies.

Trump's tariffs on Canada, Mexico and China suggest he is willing to risk a global trade war. The main thing that could stop him would be a stock market selloff.

Financial markets are in turmoil after US President Donald Trump shocked nearly everyone by unleashing aggressive and immediate tariffs on imports from Canada, Mexico and China and threatening fresh levies on the European Union.

By Yoruk Bahceli, Tom Westbrook, Naomi Rovnick and Chuck Mikolajczak LONDON/SINGAPORE/NEW YORK (Reuters) - Financial markets that had banked on avoiding trade wars are recalibrating the possibility of a sharp global slowdown,