Global Markets Plunge $9.5 Trillion as Trump Stands Firm on Tariffs

Global financial markets experienced a severe downturn on Monday, extending a three-day selloff that has erased approximately $9.5 trillion in equity value. S&P 500 futures indicated a 3% loss, the VIX volatility index spiked above 50, Europe’s Stoxx 600 tumbled 5%, and Asian markets saw their worst day since 2008. Investors sought safety in Treasury bonds and the Japanese yen. The selloff intensified after President Trump showed determination to proceed with tariffs despite recession warnings from prominent economists and criticism from hedge fund managers, including supporter Bill Ackman. Trump’s comment to reporters to “forget markets for a second” signaled his […]