Global stock markets were shaken on Tuesday following a series of announcements by US President Donald Trump including threats to impose new export controls and tariffs along with the highly unusual firing of a central bank official. In Asia, Hong Kong’s Hang Seng was down 1.18% or 304 points, slipping to 25,524. Nikkei too, dipped 0.97% or 413 points, landing at 42,394, and Shanghai shredded 0.39% OR 15 points. In Korea, Kospi fell 0.95% or 30 points.In Europe, FTSE 100 was down 0.52% or 48 points, trading at 9,272 at 2.45 PM. Investors had been riding a wave of confidence since Friday, after US Federal Reserve Chairman Jerome Powell’s speech suggested upcoming interest rate cuts in the world’s largest economy. Investors were rattled by Trump’s Monday evening announcement in the US that he was removing Federal Reserve governor Lisa Cook, citing allegations of false statements on her mortgage agreements.The highly unusual move, which may face a legal challenge, has intensified worries over the central bank’s independence, amid Trump’s repeated public demands on Powell to lower interest rates. The dollar initially fell on the news, before mostly recovering after Cook issued a statement vowing to continue in her role. Meanwhile, gold, often seen as a safe haven, advanced.Adding to market jitters, Trump also vowed Monday evening to impose “substantial additional tariffs” on shipments from countries that do not cancel digital taxes and regulations, which he said were “designed to harm” US technology. He further threatened to introduce export restrictions on “highly protected (US) technology and chips,” without providing further details.Oil prices dipped slightly on Tuesday, reversing gains made in recent days amid speculation over a possible peace deal to end the war in Ukraine.