— The U.S. raised its import tariffs dramatically for countries worldwide, and China responded with its own tariffs; markets sank on fears of escalating trade war and recession.
— U.S. Senate Republicans approved a tax bill that would extend the 2017 Trump tax cuts and increase the debt ceiling while reducing government spending, in an effort to stimulate the economy as recession fears set in.
— U.S. bond yields fell and the yield spread on lower-quality debt widened amid concern about potential U.S. recession; the dollar remained weak against foreign currencies.
— The U.S. economy added a healthy 228,000 new jobs in March, but the U.S. unemployment rate increases to 4.2%
— The European Parliament voted to delay implementation of sustainability reporting and due diligence laws, in an effort to not hurt the economic competitiveness of companies.
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