Global stocks tumble as Trump proceeds with US tariffs
NEW YORK: Stock markets were in gloomy mode Tuesday (Mar 4) as China, Mexico and Canada hit back at US tariffs and fears grew that Europe could be President Donald Trump’s next target in the growing global trade war.
Wall Street stocks tumbled for a second straight session while European markets closed down sharply amid worries a prolonged trade spat may knock the world economy out of kilter.
Frankfurt plunged more than 3.5 per cent for its worst session in almost three years, while London shed 1.3 per cent and Paris gave up 1.9 per cent.
“The headlines surrounding an impending global trade war have become too loud to ignore on the once-booming trading floor of Frankfurt,” noted Konstantin Oldenburger, analyst at CMC Markets.
“The…
