US stocks tank as worries deepen about impact of Trump's trade war

New York (AP): Wall Street is sinking again, following other global markets lower, as worries deepen about whether President Donald Trump's trade war will torpedo the global economy.

The S and P 500 was down 3.8 per cent in early trading Monday, coming off its worst week since COVID began crashing the global economy in March 2020.

The Dow Jones Industrial Average was down 1,200 points, and the Nasdaq composite was 4 per cent lower.

Stocks in Hong Kong plunged 13.2 per cent for their worst day since 1997. A barrel of benchmark US crude oil briefly dropped below $60 for the first time since 2021.