Kristolina Georgieva warns against retaliation to US levies while US president insists ‘markets will boom’ after sweeping tariff announcement

• Full report: Global markets in turmoil as Trump tariffs wipe $2.5tn off Wall Street
• Analysis: Trump’s ‘idiotic’ and flawed tariff calculations stun economists

In the Pacific, Fiji is the hardest hit by Trump’s tariffs. It has been levied with a 32% tariff, Vanuatu at 22% and Nauru at 30%.

Fiji prime minister Sitiveni Rabuka said the move was akin to a “trade blockade” that his country could not win.

Today was the worst stock market experience in five years. Usually when you have a terrible stock market experience, it’s because a bank fails, a pandemic, a hurricane or because some other country does something.

We don’t have these kinds of stock market responses in response to policies that the President of the United States is proud of. That is something that is entirely without precedent. It is extremely dangerous.

If any administration of which I was a part had launched an economic policy so totally ungrounded in serious analysis or so dangerous and damaging, I would have resigned in protest.

John Harris on how music helped him connect with his autistic son James

When James was a child, he loved playing songs over and over. I Am the Walrus, by the Beatles. Autobahn, by Kraftwerk.

“He hears emotion in music. I know that for a fact,” James’s father the Guardian journalist John Harris tells Helen Pidd.