Shares, oil prices fall amid tariff concerns, China output dips

Global shares wavered and oil prices fell as investors grappled with the economic fallout from President Donald Trump’s tariffs, which have led to corporate profit warnings and a surge in the U.S. trade deficit. U.S. economic data pointed to a possible contraction in first quarter GDP, with businesses stockpiling imports to avoid higher costs and consumer confidence dropping to a nearly five-year low. In China, factory activity contracted at its fastest pace in 16 months, highlighting the pressure from U.S. tariffs and prompting calls for more stimulus. While Trump has taken steps to ease the impact of auto tariffs and trade negotiations have shown signs of progress, details remain unclear and uncertainty dominates markets. Economists warned of an increased risk of recession in the U.S., attributing it to restrictive and unpredictable tariff policies, while European carmakers and banks also expressed concerns about the uncertain outlook. Despite some recovery in equities, sentiment remains fragile as global economic prospects are clouded by ongoing trade policy uncertainty.