The ongoing global trade war has created significant challenges for central banks in emerging markets, distinctly different from the monetary policy environment during the COVID-19 pandemic. Gita Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF), emphasized in a recent interview with the Financial Times that unlike the pandemic period—when central banks could swiftly ease monetary policies—trade tensions are causing unpredictable economic disruptions. This unpredictability complicates policy responses and financial stability management for emerging economies navigating global market volatility.

Escalating trade tensions between the United States and Europe have reignited investor concerns after the U.S. administration announced plans to double tariffs on imported steel to 50%. The policy shift, aimed at protecting domestic producers, has sent shockwaves through the European industrial base, particularly affecting German steelmakers and their listed equities.

Nvidia Corporation $NVDA, a global leader in semiconductor manufacturing and artificial intelligence (AI) technology, is set to release its Q1 2025 earnings report on Wednesday. Market participants are closely monitoring the company’s revenue trajectory, which analysts predict will surge by 66.2%, reaching $43.28 billion. However, significant uncertainty remains regarding the impact of ongoing and evolving technology restrictions imposed by China on Nvidia’s operations. Meanwhile, regulatory relaxations in other jurisdictions may unlock new market opportunities, adding complexity to the company’s outlook.