Stock markets down amid global trade war

European stocks posted their sharpest 1-day decline in six months and US stocks fell to levels before Donald Trump took office. They are responding to the US imposing 25% tariffs on Mexico and Canada and additional 10% tariffs on China. All of these countries responded by slapping their own tariffs on US exports. US tariffs on EU goods are due to follow shortly. A global trade war will increase inflation and reduce economic growth, with very few winners.

(reuters.com, aktuality.sk)