'Uncharted territory': Deutsche Bank strategists warn of 'simultaneous collapse' in 'all US assets'

President Donald Trump escalated his trade wars on Tuesday, April 8, announcing even more tariffs on goods imported into the United States from Mainland China.

Altogether, Chinese imports will be facing tariffs at a rate of 104 percent — while the government in Beijing is retaliating with 84 percent in levies on imports into Mainland China from the U.S.

Meanwhile, Trump's trade war with Canada, Mexico, the European Union (EU) and other parts of the world continues. And the stock market is still in freefall.

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According to the Wall Street Journal, Deutsche Bank is warning that the global economy is seeing a "simultaneous collapse in the price of all U.S. assets" — which signals a move into "uncharted territory."

In an article published on Wednesday, April 9, WSJ described other troubling signs as well.

The WSJ notes, "In latest moves: U.S. stock futures were modestly down. On Tuesday, major indexes ended lower, capping a highly volatile session. The Dow industrials closed at a 52-week low. Vanguard cut its forecast for 2025 GDP growth to less than 1 percent, roughly a percentage point below its previous estimate."

The Journal added, however, "The new forecast, assumes Trump will walk back some of his tariffs. The Bank of England said the risk of 'further sharp corrections' in asset prices remains high. Japan's top currency diplomat pledged to ensure stability in the global financial system, saying Tokyo will coordinate with other nations."

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Read the Wall Street Journal's full article at this link (subscription required).