Global Stock Market Plunge due to President Trump's Tariffs
Global stock markets plummeted as investors feared economic devastation from President Trump's tariffs, with major banks predicting a high probability of recession. Asia saw significant drops in stock indexes, with Hong Kong's Hang Seng Index falling 13.2% and Taiwan's composite index dropping nearly 10%. European markets and U.S. futures also showed weakness.
Key Points
- Major investment banks like Goldman Sachs and JP Morgan have raised the probability of a recession due to Trump's tariffs.
- Asian stock markets saw significant drops, with Hong Kong and Taiwan setting grim records.
- European and U.S. markets also showed weakness in response to the news.