Market Volatility Hits 5-Year High Amid Trump’s Tariff Turmoil

Global stocks took another hit on Monday as President Donald Trump intensified his stance on tariffs, raising fears of a recession. Investors grappled with the fallout from the policy shift in a chaotic trading session, with volatility reaching levels unseen since the early days of the COVID-19 pandemic.

Key Facts

US stocks fell further on Monday, continuing last week’s heavy losses that erased trillions in market value.
The Dow Jones Industrial Average dropped 350 points (0.9%), the S&P 500 slipped 0.2%, while the Nasdaq edged up 0.1%.
At market open, losses were more dramatic: Dow fell 1,320 points (3.4%), S&P 500 dropped 3.9%, and Nasdaq lost 4.2%.
A brief rally occurred after unconfirmed reports suggested a temporary tariff suspension, pushing the S&P 500 up 6%, but stocks tumbled again after the White House dismissed the claim.
Since Trump’s “Liberation Day” speech on Wednesday, the Dow has fallen 10% (4,300 points), and both the S&P 500 and Nasdaq have each dropped 11%.
Goldman Sachs warned of a possible recession if tariffs remain, while JPMorgan Chase CEO Jamie Dimon cautioned that tariffs could drive inflation even higher.

Volatility Hits Pandemic-Era Highs

The CBOE Volatility Index (VIX)—a key measure of market uncertainty—closed at its highest level since April 2020, when stocks collapsed due to pandemic lockdowns. The VIX surged as S&P 500 swings widened between gains of 3.4% and losses of 4.7%.

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Trump Pushes For Fed Rate Cuts

Despite market turmoil, Trump remained steadfast on tariffs. On Truth Social, he urged the Federal Reserve to cut interest rates, falsely claiming, “There is no inflation.”

Economists widely agree that tariffs will worsen inflation, which already exceeds the Fed’s 2% target. The Federal Reserve held a closed-door meeting on Monday to discuss the situation.

Trump appeared unfazed by the stock crash, even sharing a post claiming he was intentionally triggering it.

Bear Market Watch

A bear market occurs when a stock index falls 20% or more from a recent high. Before these tariff-driven declines, the last bear market occurred in 2022, when inflation soared to a 40-year high, prompting aggressive rate hikes by the Federal Reserve.

Biggest Stock Losers From Tariffs

Tech giants suffered major blows on Monday:

Apple fell 4%, adding to last week’s 15% decline.
Tesla dropped 3%, also down 15% since Thursday.

S&P 500 On The Edge Of A Bear Market

Nasdaq officially entered a bear market on Friday.
S&P 500 briefly fell over 20% from its February peak before paring losses to 18%.
Dow Jones is down 16% from its December record high, while the Nasdaq is down 23% from its peak.

Looking Ahead

With markets in turmoil and inflation concerns mounting, all eyes remain on the White House and the Federal Reserve as investors brace for more uncertainty in the weeks ahead.

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Strained Household Finances: Eurostat Data Reveals Persistent Payment Delays Across Europe and in Cyprus

by THEFUTURE.TEAM

November 22, 2025

Improved Financial Resilience Amid Ongoing Strains

Over the past decade, Cypriot households have significantly increased their ability to manage debts—not only bank loans but also rent and utility bills. However, recent Eurostat data indicates that Cyprus continues to lag behind the European average when it comes to covering financial obligations on time.

Household Coping Strategies and the Limits of Payment Flexibility

While many families are managing their fixed expenses with relative ease, one in three Cypriots struggles to cover unexpected costs. This delicate balancing act highlights how routine payments such as mortgage installments, rent, and utility bills are met, but precariously so, with little room for unplanned financial shocks.

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Breaking Down Payment Delays Across the European Union

Eurostat reports that nearly 9.2% of the EU population experienced delays with their housing loans, rent, utility bills, or installment payments in 2024. The situation is more acute among vulnerable groups: 17.2% of individuals in single-parent households with dependent children and 16.6% in households with two adults managing three or more dependents faced payment delays. In every EU nation, single-parent households exhibited higher delay rates compared to the overall population.

Cyprus in the Crosshairs: High Rates of Financial Delays

Although Cyprus recorded a notable 19.1 percentage point improvement from 2015 to 2024 in delays related to mortgages, rent, and utility bills, the island nation still ranks among the top five countries with the highest delay rates. As of 2024, 12.5% of the Cypriot population had outstanding housing loans or rent and overdue utility bills. In contrast, Greece tops the list with 42.8%, followed by Bulgaria (18.7%), Romania (15.3%), Spain (14.2%), and other EU members. Notably, 19 out of 27 EU countries reported delay rates below 10%, with Czech Republic (3.4%) and Netherlands (3.9%) leading the pack.

Selective Improvements and Emerging Concerns

Between 2015 and 2024, the overall EU population saw a 2.6 percentage point decline in payment delays. Despite this, certain countries experienced increases: Luxembourg (+3.3 percentage points), Spain (+2.5 percentage points), and Germany (+2.0 percentage points) saw a rise in payment delays, reflecting underlying economic pressures that continue to challenge financial stability.

Economic Insecurity and the Unprepared for Emergencies

Another critical indicator explored by Eurostat is the prevalence of economic insecurity—the proportion of the population unable to handle unexpected financial expenses. In 2024, 30% of the EU population reported being unable to cover unforeseen costs, a modest improvement of 1.2 percentage points from 2023 and a significant 7.4 percentage point drop compared to a decade ago. In Cyprus, while 34.8% still report difficulty handling emergencies, this marks a drastic improvement from 2015, when the figure stood at 60.5%.

A Broader EU Perspective

Importantly, no EU country in 2024 had more than half of its population facing economic insecurity—a notable improvement from 2015, when over 50% of the population in nine countries reported such challenges. These figures underscore both progress and persistent vulnerabilities within European households, urging policymakers to consider targeted measures for enhancing financial resilience.

For further insights and detailed analysis, refer to the original reports on Philenews and Housing Loans.

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