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Global stock markets experienced a dramatic sell-off on Monday as investors reacted to the latest surge in US tariffs, raising fears of a potential global economic slowdown. European and Asian shares plummeted sharply, while US futures signaled the risk of a bear market, and oil prices also slid.
The widespread market decline follows US President Donald Trump’s announcement of significantly higher import taxes, combined with retaliatory measures from China last Thursday and Friday. Tokyo’s Nikkei 225 dropped nearly 8% shortly after the opening bell, with futures trading for the index even being temporarily suspended, ultimately closing 7.8% lower at 31,136.58.
European markets mirrored the downturn. Germany’s DAX index, which fell more than 10% at the opening on the Frankfurt exchange, managed a partial recovery only to finish the morning 5.8% lower. Similarly, Paris’ CAC 40 declined by 5.8%, and Britain’s FTSE 100 dropped 4.9% during the European session.
In the United States, pre-market futures indicated further weakness, with the S&P 500 losing 3.4%, the Dow Jones Industrial Average dropping 3.1%, and Nasdaq futures falling by 5.3%. Should these losses persist at market open, the S&P 500 could breach the bear market threshold—defined as a decline of more than 20% from its peak—especially after ending last week down 17.4%.
This sell-off builds on Friday’s severe market downturn—the worst since the COVID-19 pandemic—when the S&P 500 fell 6%, the Dow dropped 5.5%, and the Nasdaq declined 3.8%. Deutsche Bank analysts noted in a research report that there were no clear signs of stabilization or a bottom forming.
Reiterating his commitment to the tariffs, Trump, speaking from Air Force One on Sunday, remarked, “sometimes you have to take medicine to fix something,” dismissing concerns that his policies were intended to trigger market declines. Heavy selling ensued after China matched Trump’s tariffs last Friday, intensifying fears of an escalating trade war that could spiral into a global recession. Even a stronger-than-expected US jobs report failed to stem the slide.
“The uncertainty about how these tariffs will ultimately play out is really driving the plummet in stock prices,” said Rintaro Nishimura, an associate at Asia Group.
Asian markets bore the brunt of the turmoil as well. Hong Kong’s Hang Seng Index tumbled 13.2% to 19,828.30, the Shanghai Composite dropped 7.3% to 3,096.58, and Taiwan’s Taiex fell 9.7%. South Korea’s Kospi declined 5.6% to 2,328.20, while Australia’s ASX 200 slid 4.2% to 7,343.30, recovering slightly from an earlier loss of over 6%. These losses are particularly concerning for Asian economies, which are heavily reliant on exports to the US market.
“Beyond the market meltdown, the bigger concern is the impact on small, trade-dependent economies,” warned Gary Ng of Nataxis, emphasizing the need for Trump to reach at least partial tariff deals with other countries soon.
Oil prices also fell as market sentiment soured, with US benchmark crude dropping by $2.30 to $59.69 per barrel and Brent crude declining by $2.33 to $63.25 per barrel, amid concerns that slowed economic growth would dampen fuel demand. This drop came as OPEC+ nations increased production to counterbalance the decline.
Currency markets experienced volatility as well; the US dollar weakened against the Japanese yen, falling to 146.24 yen from 146.94, while the euro inched up by 0.3% to $1.0992.
Nathan Thooft, chief investment officer at Manulife Investment Management, predicted that additional countries might retaliate with their own tariffs, although he expects negotiations to be prolonged. “Market uncertainty and volatility are likely to persist for some time,” he noted.
While the Federal Reserve might offset some of the economic impact by lowering interest rates to boost borrowing and spending, Fed Chair Jerome Powell warned that lower rates could further stoke inflationary pressures already heightened by the tariffs.
Ultimately, much will depend on how long Trump’s tariff policy remains in place and how other nations respond. Some investors are holding onto hope that, after securing concessions from other countries, Trump might eventually ease the tariffs. Meanwhile, Citi’s head of US equity strategy, Stuart Kaiser, pointed out that current earnings estimates and stock valuations have not yet fully accounted for the potential downside of the unfolding trade conflict.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
Gold prices rose above $4,000 an ounce for the first time on Wednesday, fuelled by investor demand for safe-haven assets amid rising geopolitical tensions and expectations of U.S. interest rate cuts.
U.S. shares ended Tuesday in negative territory as investors, cut off from official economic data due to the ongoing government shutdown, looked to alternative indicators and comments from Federal Reserve officials for guidance on economic weakness and monetary policy.
Elon Musk’s artificial intelligence startup xAI is targeting a $20 billion capital raise linked to Nvidia hardware, Bloomberg News has reported.
Türkiye’s benchmark stock index, the BIST 100, closed Tuesday at 10,814.11 points, up 0.74% from the previous session.
Euro zone finance ministers are set to meet on Thursday to explore ways to boost the development of euro-denominated stablecoins, amid concerns that the fast-growing market could remain dominated by the United States, a senior euro zone official said.
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