Markets suffered a brutal blow as US President Donald Trump's broadest-ranging tariffs came into effect on Saturday, in a move many analysts say will heighten global trade tensions, stoke recessionary fears, and likely generate tit-for-tat punitive measures by trading allies. OFCE Deputy Director and Macroeconomics Professor at Sciences Po Paris, Francesco Saraceno, says, “The stock market will be affected because the economy will be in worse shape. The idea of the Trump administration is to hit hard and then walk back after getting concessions from other countries.”