Reference News Network reported on April 3 that Bloomberg News Service published a report titled "Trump's Tariffs Make the U.S. the Biggest Loser in the Market" on April 3. The report said that US President Trump's "reform" of the global trade system has caused more damage to US assets than to the assets of many large economies whose goods have been subject to Trump's additional tariffs.

After the closing on February 2, Trump announced a series of comprehensive tariffs. American stock index futures fell by more than 4%, and the US Dollar Index also fell. However, the impact on other regions was not as severe. The Asia-Pacific Stock Composite Index fell by 1.7%, and European stock index futures fell by 2.4%.

The widespread selling in global markets indicates that investors do not expect any winners in the increasingly intense trade war. However, they said that the United States itself may be one of the biggest victims of Trump's protectionist policies.

Kok Siong Ong, head of institutional equity sales trading at Maybank Securities, said: "The narrative is shifting from American exceptionalism to American alienation."

As traders prepare for the economic impact, the US dollar had one of its worst days of the year. The yen rose 1.5% against the dollar, while the euro gained more than 1%. The yield on the 10-year US Treasury note fell to its lowest level since October last year, further putting pressure on the dollar.

Ray Attrill, head of foreign exchange strategy at National Australia Bank, said: "The tariff news has exacerbated concerns about US economic growth, causing further declines in US stocks, which means the US dollar is no longer supported by its traditional status as a safe-haven currency and reserve currency."

The announcement of the tariffs added more pressure to the already struggling US stock market this year, as investors prepared for Trump's policies, which would cause inflation and increase the likelihood of an American economic recession. Before the announcement of the tariffs, the S&P 500 index had fallen by 3.6% this year, and the Nasdaq 100 index had fallen by 7%. Seven major technology stocks plummeted significantly.

In a report, Scott Kronawitter, head of US equity strategy at Citigroup, said that the announced tariffs increased the risk of "damaging consumer and business confidence," and this risk could persist even if the tariffs are eventually canceled. He said that the bank expects to downgrade its expectations for the US stock market. (Translated by Wang Haifang)

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