The frantic two-day selloff unleashed by Trump’s decision left little unscathed, hammering stock prices in Asia, Europe and the developing world, and prompted investors to race into havens like government bonds.
In every corner of the financial markets, from stocks to bonds to commodities, investors sent Donald Trump the same unmistakable message: The trade war he unleashed is threatening to set off a worldwide recession — and fast.
With China retaliating less than 48 hours after the US president rolled out his punitive tariffs, traders are pricing in what increasingly looks like a negative-feedback loop as Trump shows little signs of backing down.
