Turbulence for global stock markets continues as Trump gives mixed signals on tariffs
A sell-off across US markets has continued as investor sentiment soured amid growing fears that the world’s largest economy is facing a recession. The mood spilled over into European markets, which closed lower.
It follows a week of turbulence for global stock markets, in which investors have tried to digest the impact of US tariffs on Canada, Mexico and China. Over the week, US president Donald Trump made policy, then reversed it, including temporarily halting tariffs on Canada and Mexico on Thursday. On Wall Street, the S&P 500 had plunged 2.3 per cent by the time European markets closed, and Dow Jones was down 1.2 per cent. Experts said there could be a number of reasons for the sell-off. David Morrison, a senior market analyst for Trade Nation, said there was uncertainty surrounding tariffs, adding: “The president appears to be taking a scatter-gun approach in terms of targets, while teasing the markets with last-minute reprieves, delays or softening in scope.
Defence stocks, which have benefited from higher defence spending prospects, continued to give up their gains to fall about 4.5 per cent and lead sector declines.jumped 14.3 per cent after the British healthcare real estate investment trust said it would consider a £1.61 billion offer from US private equity group KKR and Stonepeak Partners. Shares ofrose 0.
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