Business reporters, BBC News
Getty ImagesUS President Donald Trump’s plans for tariffs sparked a global sell-off on financial markets on Monday, though a last-minute halt to levies on goods from Mexico brought some relief.
After steep losses earlier in the day, news of the reprieve prompted shares to stage a partial recovery, with the Dow Jones Industrial Average ending the day down just 0.3%.
The rebound followed a sharp slide after Trump issued orders over the weekend to put tariffs on goods from Canada, Mexico and China, and pledged that tariffs on the EU would “definitely happen”.
Investors are concerned that tariffs will hit the earnings of major companies and dent global growth but many are still hoping Trump is not serious.
The S&P 500 closed 0.76% lower and the Nasdaq ended the day down by 1.2%.
Canadian Prime Minister Justin Trudeau held talks with Trump on the tariffs that were due to…
