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NEW YORK -- Key planetary banal markets tumbled upon opening connected Monday arsenic the world's absorption to President Donald Trump's tariffs run continued -- and arsenic U.S. futures signaled much turmoil for American markets.
In the U.S., Dow Jones futures were down astir 1,200 points oregon 3.33% connected Monday morning. S&P 500 and NASDAQ futures were down astir 3.5%. A driblet of 7% connected the S&P 500 earlier 3:35pm ET volition trigger a market-wide circuit breaker that volition halt trading for 15 minutes.
Hong Kong leads Asian slide
Tokyo's Nikkei 225 scale mislaid astir 9% soon aft the marketplace opened connected Monday, the steep diminution triggering a circuit breaker that temporarily halted trading. Japan's broader TOPIX scale sank 8%.
In Taiwan, the Taiex mislaid 9.7%, portion successful Singapore the STI fell much than 8%.
South Korea's KOSPI scale fell much than 5.5% successful Monday trading, with Australia's S&P/ASX 200 sliding much than 6% earlier recovering slightly.
Hong Kong's Hang Seng Index dropped 13.22% -- its worst one-day show since 1997 during the Asian Financial Crisis -- with Chinese tech stocks similar Alibaba and Baidu among the large losers.
On the mainland -- wherever determination are less planetary investors -- the Shanghai Composite Index dropped much than 7%, contempt being buoyed by state-owned investors known arsenic the "National Team."
India's banal markets besides struggled. The BSE's Sensex dropped 5.19% portion the broader Nifty tumbled 5%.
Asian markets collectively posted their worst time trading league since 2008.
Europe joins rout
European indexes followed suit connected Monday morning.
The British FTSE 100 scale fell 6% upon opening, portion the pan-European Stoxx 600 scale dropped much than 6%.
Germany's DAX scale fell 10%, France's CAC mislaid 6.6% and Italy's FTSE MIB slid 5.7%.
US braced for much losses
Investors are bracing for continued marketplace turmoil connected Monday successful effect to Trump's "Liberation Day" tariffs announced past week.
Speaking with reporters connected Air Force One connected Sunday, Trump addressed the caller marketplace turbulence and consequent fears of an imminent recession.
"Now what's going to hap with the market? I can't archer you, but I tin archer you, our state has gotten a batch stronger, and yet it'll beryllium a state similar nary other, it'll beryllium the astir ascendant state economically successful the world," Trump said.
"I don't privation thing to spell down, but sometimes you person to instrumentality medicine to hole thing and we person specified a horrible -- we person been treated truthful severely by different countries due to the fact that we had anserine enactment that allowed this to happen," the president added.
U.S. markets closed importantly down connected Friday. The Dow Jones Industrial Average plummeted 2,230 points, oregon 5.5%, portion the S&P 500 plunged 6%.
The tech-heavy Nasdaq declined 5.8%. The diminution enactment the Nasdaq into carnivore marketplace territory, meaning the scale has fallen much than 20% from its caller peak.
The trading league connected Friday marked the worst time for U.S. stocks since 2020. The second-worst time for U.S. stocks since 2020 happened connected Thursday, a time earlier.
ABC News' Ellie Kaufman, Karson Yiu, Zunaira Zaki, Max Zahn and Hannah Demissie contributed to this report.
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