Global Stock Markets Crash
Following US President Donald Trump's proposal of broad tariffs on international trading partners, stock markets around the world have seen a catastrophic drop. As panic spread across markets from tokyo to mumbai, experts are referring to it as "Black Monday."
In india, the Nifty sank more than 3% below the 22,200 barrier, and the Sensex fell more than 2,200 points. On the bombay Stock Exchange alone, indian investors lost more than ₹13 lakh crore in a single day.
In india, the Nifty sank more than 3% below the 22,200 barrier, and the Sensex fell more than 2,200 points. On the bombay Stock Exchange alone, indian investors lost more than ₹13 lakh crore in a single day.
The impact on Asian markets was very severe. Both Taiwan's TX and Tokyo's Nikkei saw declines of almost 10% and more than 8%, respectively, setting off circuit breakers, which are automated trade stops intended to stop panic selling. China's national wealth fund had to step in after Hong Kong's Hang Seng fell 13%, the most precipitous loss since 1997.
Asian industrial economies have been impacted by Trump's tariffs; china is subject to 54% levies, followed by cambodia (49%), vietnam (46%), thailand (36%), and india (26%). The strain on Asian economies that rely heavily on exports has increased as a result of these high rates.
Trump's tariff actions are directly to blame for JP Morgan's increase in its forecast to 60% from Goldman Sachs' 45% risk of recession. Even Bill Ackman, a trump admirer, has demanded a 90-day halt and warned of a "economic nuclear war" if the tariffs go through as planned.
The market value of US stocks has dropped by more than $6 trillion since Trump's tariff announcement, and it has lost a record $11 trillion since his presidency. European markets have also experienced a significant collapse, with the UK's FTSE 100, France's CAC, and Germany's DAX all down more than 5%.
Trump's tariff actions are directly to blame for JP Morgan's increase in its forecast to 60% from Goldman Sachs' 45% risk of recession. Even Bill Ackman, a trump admirer, has demanded a 90-day halt and warned of a "economic nuclear war" if the tariffs go through as planned.
The market value of US stocks has dropped by more than $6 trillion since Trump's tariff announcement, and it has lost a record $11 trillion since his presidency. European markets have also experienced a significant collapse, with the UK's FTSE 100, France's CAC, and Germany's DAX all down more than 5%.
The trump administration is steadfast in its tariff policy despite the general market concern, calling reports of a possible 90-day delay "fake news."