Global stock markets register heavy falls as White House tries to talk up Trump tariffs | US economy
Global stock markets have continued to fall amid fears that a wide-ranging trade war could dent US economic growth and result in a recession, even as the White House has denied that Trump’s trade policies are causing lasting chaos.
The S&P 500 fell 2.7%, the Dow Jones dropped 2%, and the tech-heavy Nasdaq dropped 4% on Monday as investors sold shares in the so-called “magnificent seven” – Alphabet, Amazon, Apple, Microsoft, Meta, Nvidia and Tesla. Tesla’s shares had their worst day since September 2020, falling 15%.
In Asia, stocks took their cue from Wall Street and fell sharply on Tuesday, with Japan’s Nikkei and Taiwan stocks sliding about 3%, hitting their lowest level since September. MSCI’s broadest index of…
