Blood on the trading floor: Trump tariff 'medicine' makes global markets sick with selloff fever

Trump tariff war stock market fall and reaction updates: From Asia to Europe and the US itself, President Donald Trump's reciprocal tariffs are causing market turmoils. Monday was the first day of the full week since his 'Liberation Day' announcement of reciprocal tariffs on April 2. And if the current trends continue for a few more days, the much-feared global economic recession triggered by the tariff war may have already been triggered.

“I don’t want anything to go down but, sometimes, you have to take medicine to fix something,” Trump said on board Air Force One on Sunday (Apr 6).

But that medicine seems to be a bit too bitter for the markets, with even the US overnight futures trade showing a downward trend. Elsewhere, some of the stock selloff are so bad they are hitting new records.

EU seeks unified response to Trump tariffs, targeting USD 28 billion in US imports

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Here is a roundup of how various markets are reacting, at the time of writing.

India among markets hit by Trump tariff war

Indian stock market opened sharply lower on Monday. Sensex, the benchmark index of BSE crashed over 3,300 points, while NSE's Nifty went below 22,000. Various sectoral indices slumped by up to 8 per cent.

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Asian markets saw freefall, some going down by records.

In Hong Kong, the Hang Seng went down more than 13 per cent in the worst fall of nearly 30 years.

Taiwan's benchmark TAIEX saw worst fall on record, down 9.7 per cent.

In Japan, Nikkei was down 225 points or 7.83 per cent at closing.

Singapore's Straits Times Index fell more than 7 per cent.

In South Korea, the KOSPI was down by more than 5 per cent.

Australia's ASX 200 ended down more than 4 per cent.

European indices extend losses on 'black Monday' opening

European stock markets went on freefall at opening on Monday. DAX index inFrankfurt was the worst, going down by 10 per cent.

Paris was down by more than 6 per cent. London stock exchange's FTSE 100 indexopened down by 6 per cent.

Amsterdam down more than 5 percent while Oslo and Milan fell over 3 per cent each at opening.

American markets feel the pressure

In the US, two days of selloff last week destroyed $6 trillion in market value.

Monday is not going to be any different, going by the futures trade.

S&P500 Futures down 2.7 per cent on Sunday.Nasdaq-100 futures down 3.55 percent on Sunday.

China sets up trade war, other countries adopt 'fight or flight' response

China imposed a 34 per cent tariff on all US imports in a tit-for-tat response to the 34 per cent tariff by Trump. China also slapped import restrictions on critical minerals. TheChinese levies, which will be imposed from April 10, seek to bring the US 'back on to the right track of the multilateral trade system," said Vice Commerce Minister Ling Ji.

Equities savaged as China retaliation to Trump tariffs fans trade war

European Union will charge higher duties on a list of US imports that it is preparing.

Israel Prime Minister Netanyahu will discuss tariffs with Trump an in-person meeting, while Japanese Prime Minister Shigeru Ishibais expected to dial him up tonight.

The European Union, Japan and South Korea have been slapped with tariffs ranging from 20 per cent to 25 percent.

US recession 'in 12 months'?

Analysts are predicting a Trump-induced recession in another 12 months. JPMorgan said US recession chances have risen to 60 per cent, while S&P Global put the risk at 30 - 35 per cent.

China on tariffs: 'US seeking hegemony in the name of reciprocity in trade war'

Lawrence Summers, the former treasury secretary of President Bill Clinton described Trump tariffs as probably 'the most damaging economic policy' of the US since World War II.

(With inputs from agencies)