Global stock markets fall as new Trump tariffs loom

Anxiety is felt at the New York Stock Exchange with new tariffs on imports into the US due to be announced on Wednesday. Photograph: Spencer Platt/Getty Images

Stock markets across the world fell heavily on Monday after Donald Trump suggested that new tariffs he is expected to announce this week would hit “all countries”.

Shares fell across Asia-Pacific markets, in Europe and in the US after the US president crushed hopes that “reciprocal tariffs” expected on Wednesday would target only countries that have the largest trade imbalances with the US.