BANGKOK (AP) — Shares tumbled in Europe and Asia and U.S. futures tumbled Thursday following U.S. President Donald Trump ’s announcement of big increases in tariffs on imports of goods from around the world.
The double-digit tariff hikes sent shivers across world markets, as economists warned it raises the risk of recession.
The future for the S&P 500 dropped 3.1% while that for the Dow Jones Industrial Average lost 2.6%, auguring potential losses when U.S. markets reopen on Thursday.
Germany’s DAX fell 1.7% to 21,998.48, while the CAC 40 in Paris lost 1.8% to 7,716.66. Britain’s FTSE 100 shed 1.2% to 8,506.44.
In Asian trading, Tokyo’s Nikkei 225 index
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