The tariff bomb wipes out $10 trillion in stock market value, half of the EU’s entire GDP | Economy and Business
The destruction of value caused by Donald Trump’s tariffs is historic in the equity markets. The loss of market capitalization worldwide has reached $10 trillion (€9.2 trillion), according to Bloomberg. That is a figure equivalent to just over half of the GDP of the European Union. For part of Monday’s session, the S&P 500 index, the benchmark for the U.S. stock market, accumulated three consecutive drops of 4% for the first time since the Great Depression. The session-by-session collapse was also the largest since the Black Monday crisis of 1987, surpassing the losses recorded during the outbreak of the Covid pandemic (13% in three sessions), the bankruptcy of Lehman Brothers (13.9%), or the losses of 1998 (11.7%). In 1987, the…
