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Asia Stocks Slide as Trump Slaps New Tariffs, Fed Cut Bets Recede
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Asian stocks drop after U.S. tariffs and diminishing hopes for Fed cuts.
Markets in Asia fell sharply after the U.S. announced new tariffs including 100% on branded drugs and steep duties on furniture and trucks. Strong U.S. data weakened expectations of aggressive Federal Reserve rate cuts, pushing dollar strength and weighing on equities. Pharma names were especially hit, and futures in the U.S. also softened as investors recalibrated.