Stock market rout wipes out $10 trillion globally, driven by Trump's tariffs, leading to possible recession.

From Yahoo Finance: 2025-04-07 12:24:00

A historic stock market rout has wiped out over $10 trillion globally, fueled by concerns over economic damage from Trump’s tariffs. Wall Street saw its worst performance since WWII, with the S&P falling over 10% last week. The fear gauge, VIX index, hit its highest level since 2020, and global banking stocks plummeted, hinting at a possible recession.

The Australian dollar and Vietnamese dong have taken hits as a result of tariffs and trade tensions. The Aussie dollar dropped nearly 4% and the dong hit an all-time low due to Trump’s 46% duty on Vietnamese imports. Frontier markets like Pakistan and Sri Lanka’s bonds have seen significant losses, raising concerns about their economic outlook amidst the turmoil.



Read more at Yahoo Finance: here’s how it looks in charts