Financial markets worldwide plunged Monday amid President Donald Trump’s global tariffs, continuing the losses since he announced them Wednesday and setting the stage for another big day of declines in U.S. markets when they open later this morning.
Shares in Hong Kong plunged over 13% on Monday, the steepest one-day percentage drop since 1997.
In London, the FTSE 100 Index went down 5%. In Germany, the DAX is down 9%, according to CNN.
On Friday, the S&P 500 closed down 6% while the tech-heavy Nasdaq Composite dropped 5.8%. The Dow Jones Industrial Average fell over 2,200 points, or about 5.5%. On Thursday, the S&P had its worst day since early in the COVID-19 pandemic, according to NBC News.
Some world leaders have already said they were willing to negotiate with Trump on tariffs, including the general secretary of the Communist Party of Vietnam.
Israeli Prime Minister Benjamin Netanyahu is set to meet with Trump on Monday to negotiate a new tariff deal.
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Author: Faith Novak
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