Ammon News - Global stock markets have continued to fall amid fears that a wide-ranging trade war could dent US economic growth and result in a recession, even as the White House has denied that Trump’s trade policies are causing lasting chaos.

The S&P 500 fell 2.7%, the Dow Jones dropped 2%, and the tech-heavy Nasdaq dropped 4% on Monday as investors sold shares in the so-called “magnificent seven” – Alphabet, Amazon, Apple, Microsoft, Meta, Nvidia and Tesla. Tesla’s shares had their worst day since September 2020, falling 15%.

In Asia, stocks took their cue from Wall Street and fell sharply on Tuesday, with Japan’s Nikkei and Taiwan stocks sliding about 3%, hitting their lowest level since September. MSCI’s broadest index of Asia-Pacific shares outside Japan fell more than 1%.

Even Chinese stocks, which have been on a tear this year, were not immune to the downbeat mood. The blue-chip index fell about 1%, while Hong Kong’s Hang Seng Index was 1.5% lower.

European futures also pointed to a lower open, with DAX futures down 0.8% and Eurostoxx futures 0.9% lower, suggesting the selloff had more room to go. The Guardian