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U.S stock markets volatile – trade war with China continues to escalate – US dollar weakening

News Briefing

As of 22 April 2025, U.S. stock markets remain volatile following the April 2nd crash, which wiped over $3 trillion in value after President Trump’s sweeping tariffs—up to 125% on Chinese imports—sparked global trade tensions. 

The trade war with China continues to escalate, with the U.S. imposing steep port fees on Chinese-built vessels and restricting AI chip exports, prompting retaliatory tariffs from Beijing. China has also warned it will retaliate against countries that negotiate trade deals with the US “at the expense of China’s interests”, fuelling global tensions as the world’s two economic superpowers face off over tariffs.

These developments have contributed US dollar weakening with the Dollar Index hitting a three-year low amid investor concerns over Federal Reserve independence and economic outlook.

Pope Francis the People’s Pope 

News Briefing

The death of Pope Francis leads almost all the UK newspaper front pages this morning with heavy coverage in England, Scotland and Northern Ireland – the Welsh reserve much of their coverage for online. The papers dub Pope Francis the People’s Pope in this mornings headlines and describe him as ‘groundbreaking,’ ‘modern’ and someone ‘championing the poor.’