Global markets in turmoil as Trump intensifies trade war once again.
The US administration late on Tuesday released a huge list of new tariffs on $200 billion worth of goods from China.
Stocks in China and the rest of Asia tumbled overnight, spreading to Europe after markets opened.
All major European indices are down more than 1% in the first hour of trading.
You can follow global stock markets live at Markets Insider.
LONDON — Global markets are getting hammered on Wednesday as the trade war between the Trump administration and China intensifies, while fears also rise that Trump could pull the USA out of NATO.
The US administration late on Tuesday released a huge list of new products that tariffs on $200 billion worth of goods from China will be levied against.
The new 10% tariffs will apply to a huge amount of items including seafood and other fresh goods, according to the list released by US Trade Representative Robert Lighthizer.
“As a result of China’s retaliation [the introduction of tariffs on $US34 billion worth of US imports] and failure to change its practices, the President has ordered the US Trade Representative (USTR) to begin the process of imposing tariffs of 10% on an additional …read more
Source:: Businessinsider – Finance