Global economic signals weakened in March, with JP Morgan’s Global PMI dropping to 50.3, indicating slowing momentum across developed markets like the US and Europe. Meanwhile, emerging markets led by India and China remained relatively strong.

A key development was President Trump’s imposition of a 10% blanket import tariff, with steeper duties for China (145%).

This triggered sharp global equity selloffs, volatility, and investor flight to safe assets like gold and bonds.