It has been a brutally volatile week across global markets, driven by a whirlwind of US tariff implementations, abrupt reversals, and rapid retaliations.

This week, investors faced historic volatility in global markets largely due to the ongoing saga of US tariff policies which led to significant fluctuations in securities, especially US-based assets. Tariff announcements were made, reinstated, and then temporarily paused within hours, showcasing the unpredictable nature of current US trade policies. The aggressive tightening of tariffs, notably the staggering 145% cumulative rate on Chinese goods, left many market participants scrambling to adjust their strategies. On Wednesday, the S&P 500 staged an impressive recovery after a monumental decline, only to give back most of those gains by Thursday as uncertainty loomed large. Notably, the decline in the dollar emphasized foreign investors' response to the administration's mixed signals on tariffs. Increased volatility has led many to seek refuge in safe-haven assets like gold, which notably surged during this tumultuous period. While some analysts pointed out that the market's sharp sell-off indicated fears of recession, others suggested that recent economic data remains mixed with historical precedents hinting that inflation could persist. As the Fed gears up to respond to these pressures, all eyes will be on how the government maneuvers through these tricky economic waters.