Stock markets LIVE: FTSE 100 plummets as Trump sparks recession fears in new Black Monday

Donald Trump's tariffs rocked global markets again on Monday. The was down more than 5% in early trading, while Asian shares nosedived after the meltdown on Friday in Wall Street over U.S. President Donald Trump's tariff hikes and the resulting backlash from Beijing.

US futures also signalled further weakness. The future for the S&P 500 lost 3.7% while that for the Dow Jones Industrial Average shed 2.9%. The future for the Nasdaq lost 4.7%. On Friday, the worst market crisis since COVID slammed into a higher gear as the S&P 500 plummeted 6% and the Dow plunged 5.5%. The Nasdaq composite dropped 5.8%. The chaos has been compared to 1987's 'Black Monday' - when markets were similarly hammered.

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