$Here are the most important developments.
$TRUMP 's tariffs take effect, putting pressure on the global economy.
Average US tariffs rise to 15.2%, the highest level since World War II.
The tariffs include major trading partners such as Japan, the European Union, India, and Switzerland.
Warnings of an economic slowdown, recession, and rising inflation in the US.
The timing coincides with a decline in job growth and spending in the US market.
The euro rises, approaching a two-week high against the dollar.
Markets await US initial jobless claims data and the Bank of England's interest rate decis