Investors around the world are bracing for another tough week after U.S. tariffs took effect.
Chinese markets faced a “grim Monday,” Bloomberg wrote, as Beijing retaliated with punitive tariffs and Taiwanese regulators imposed temporary controls on short selling to try to limit volatility.
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In a sign of what could happen after Monday’s open, Middle Eastern markets suffered their worst losses of 2020 in trading on Sunday.
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Wall Street just had its worst week in five years, with uncertainty leading companies to cancel initial public offerings and dampening hopes of a trading recovery.
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U.S. Treasury Secretary Scott Bessant once again dismissed recession fears, saying on Sunday that markets “continue to underestimate Donald Trump.”
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