US stock market loses $5 trillion in value as Trump plows ahead on tariffs
US stock market loses $5 trillion in value as Trump plows ahead on tariffs
www.straitstimes.com US stock market loses $5 trillion in value as Trump ploughs ahead on tariffs
The benchmark S&P 500 fell 2.7 per cent, its biggest daily drop of the year. Read more at straitstimes.com.
NEW YORK - President Donald Trump’s tariffs have spooked investors, with fears of an economic downturn driving a stock market sell-off that has wiped out US$4 trillion (S$5.3 trillion) from the S&P 500’s peak last month, when Wall Street was cheering much of Mr Trump’s agenda.