Stock markets tumble as investors pull back from American assets
Wall Street weakened Monday as investors worldwide became more skeptical about American investments, something many economists suggest is due to U.S. President Donald Trump’s trade war and his ongoing criticism of the Federal Reserve.
The S&P 500 sank 2.4 per cent in another wipeout. That yanked the index 16 per cent below its record set two months ago.
The Dow Jones Industrial Average dropped 971 points, or 2.5 per cent, while losses for Tesla and Nvidia helped drag the Nasdaq composite down 2.6 per cent.
In Canada, the main S&P/TSX composite index fell 0.76 per cent today.
Perhaps more worryingly, U.S. government bonds and the value of the U.S. dollar also sank as prices retreated across U.S. markets. It’s an unusual move because…
