Brazilian assets saw volatility spike as traders rushed to assess the endgame of President Donald Trump’s threat to impose 50% tariffs on all goods from the South American nation.

Oil prices fell by around 2% on Thursday, as investors weighed the potential impact of U.S. President Donald Trump's tariffs on global economic growth. Brent crude futures were down $1.42, or 2.02%, at $68.

President Trump's move to impose a 50% tariff on U.S. copper imports targets a vital metal that is widely used in many products and industries. That could lead to higher prices for everything from appliances and electronics to cars and home repairs,

The levy is the highest announced so far in Trump’s letters to world leaders this week, and comes after he wrote a lengthy message supporting the former Brazilian leader.

Global stocks advanced on Thursday, underpinned by optimism around artificial intelligence and the prospect of upcoming interest rate cuts, while investors kept a cautious eye on U.S. President Donald Trump's tariff actions and their impact on global trade.

Scavino is the third top official who, along with two others, sold Trump Media stock with the combined value of up to $10 million before tariffs news

President Donald Trump escalated his trade war, imposing new tariffs on Brazil and announcing fresh duties on copper imports.

U.S. Commerce Secretary Howard Lutnick said Tuesday that another batch of tariff letters was close to going out, followed by “a general letter” that would cover trading partners that didn’t get their own missives.