President Trump’s tariffs have wiped trillions of dollars off the value of stock markets worldwide and amplified concerns that the global economy is hurtling toward a recession. According to analysts, the decline in US stocks has been among the largest since the Second World War, surpassed only by the 1987 “Black Monday” stock market crash, the 2008 global financial crisis and the early days of the Covid-19 pandemic. Sharp stock price falls after Trump announced his package of “reciprocal tariffs” last week show no signs of letting up: on Monday, London’s FTSE 100 slid by as much as 6 per cent, while some shares in Asia had their worst day since the late 1990s. • Trump tariffs latest: FTSE 100 plunges as Asian markets
