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Trade Spat Wipes Out $1 Trillion From Global Stock-Market Values

Bloomberg business news
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The flare-up in trade tensions sent global equities to the steepest losses of the year, wiping more than $1 trillion from stock values around the world Monday.

The MSCI All-Country World Index fell 2% as of 12:55 p.m. in New York, headed for the worst day since early December. Selling was heaviest in the U.S., where the S&P 500 Index plunged 2.5% and the Nasdaq Composite tumbled more than 3%. European shares lost 1.2% and emerging-market stocks slid 1.7%.