Stocks Slump On Trade War Fears After Trump Pushes Ahead With Tariffs

A global selloff in stocks continued from Asia into Europe on concern US President Donald Trump’s planned tariffs on Canada, Mexico and China will hurt economic growth. A gauge of Asian shares fell as much as 2.5%, while the dollar strengthened.

Trump said the 25% tariffs on Canada and Mexico would come into force from March 4, while Chinese imports would face a further 10% levy. Economists say tariffs may hurt US growth, worsen inflation and possibly spark recessions in Mexico and Canada. China vowed “all necessary measures” against the US moves. Some of the biggest losses were in Hong Kong, where Chinese tech shares have been surging recently.