Global stock markets reeling following Trump’s tariffs shock
Wall Street shuddered, and a level of shock unseen since COVID’s outbreak tore through financial markets worldwide Thursday on worries about the damage U.S. President Donald Trump’s newest set of tariffs could do to economies across continents, including his own.
The S&P 500 sank 4.8 per cent, more than in major markets across Asia and Europe, for its worst day since the pandemic crashed the economy in 2020. The Dow Jones Industrial Average dropped 1,679 points, or four per cent, and the Nasdaq composite tumbled six per cent.
Little was spared in financial markets as fear flared about the potentially toxic mix of weakening economic growth and higher inflation that tariffs can create.
Everything from crude oil to Big Tech stocks to the…
