Global markets plummeted on Monday after US President Donald Trump doubled down on a raft of tariffs he is labelling 'medicine', insisting foreign governments would have to pay "a lot of money" to lift them.
Markets across Asia tumbled, with the Hong Kong market index suffering its biggest single day drop since 1997. China's foreign ministry spokesperson called the tariffs "protectionist bullying".
European stocks have followed the trend, with the UK's FTSE 100 falling 6% within minutes of opening on Monday, and the pan-European STOXX 600 also falling by 5.8%.
Alice Haine, financial analyst at London based financial company Bestinvest, says tariffs are sending shockwaves across the global economy.
IN: It's got Asian markets reeling…
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