US stock markets plummeted Monday due to worries about the detrimental effects of President Donald Trump’s tariffs on the economy. Early Tuesday trade losses in Asia had subsided by the afternoon.<\/p>\n
It followed the president’s statement that the largest economy in the world was in a “period of transition” in a television appearance addressing rumors of a possible recession. Leading Trump aides and officials have worked to allay investor concerns since the comments were aired on Sunday.<\/p>\n
According to Charu Chanana, an investment strategist at Saxo, “the previous notion of Trump being a stock market president is being re-evaluated,” She told the BBC. Trump seemed to recognize economic concerns in an interview recorded on Thursday but aired on Fox News over the weekend.<\/p>\n
I hate to predict things like that,” he replied. Because of the size of what we’re doing, there is a transitional phase. We are returning riches to the United States. That’s significant.<\/p>\n
Asian equities experienced a steep initial decline on Tuesday before rebounding. South Korea’s Kospi ended the day 1.3% lower, while Japan’s Nikkei 225 closed down 0.6%. The Dow Jones Industrial Average fell 2% on Monday, while the S&P 500, which monitors the largest US corporations, ended the trading day 2.7% lower in New York.<\/p>\n
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