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The Guardian - US
The Guardian - US
Business
Callum Jones in Washington

Volatility grips global stock markets as Trump insists on tariff ‘medicine’

Donald Trump United States Jamie Dimon Hang Seng Index Oil
electronic display screen underneath a sign saying New York Stock Exchange
An electronic display shows financial information on the floor at the New York Stock Exchange on Monday. Photograph: Seth Wenig/AP

Extreme volatility plagued global stock markets on Monday, with Wall Street swinging in and out of the red as Donald Trump defied stark warnings that his global trade assault will wreak widespread economic damage, comparing new US tariffs to medicine.

A renewed sell-off began in Asia, before hitting European equities and reaching the US. It was briefly reversed amid hopes of a reprieve, only for Trump to threaten China with more steep tariffs, intensifying pressure on the market.

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