Monday saw a third day of market declines as concerns about the worldwide effects of Donald Trump’s tariffs persisted. London’s FTSE 100 dropped 4.4% to 7,702, its lowest level in over a year, as European markets ended the day down. Berlin and Paris shares also fell.
There had been cautious trading on America’s major stock market indexes; shares had dropped more than 4% before momentarily rising on a rumor that the US president was thinking about delaying the implementation of import taxes.
The White House proclaimed this “fake news,” and the Dow Jones, Nasdaq, and S&P 500 all started to tumble again, albeit less sharply. Following this, the US and UK stock markets saw their most significant one-day declines since the COVID-19 epidemic in 2020. The S&P 500 lost over $5 trillion (£3.9 trillion).
The S&P 500 entered bear market territory in early trading on Monday when its drop momentarily grew to more than 20% since a peak in February. Economists have hypothesized that other nations would try to agree with the US on the tariffs. However, Trump redoubled his efforts, telling reporters on Sunday night that medication is sometimes necessary to heal a problem.
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