The US stock market was in freefall today as investors feared Donald Trump’s tariffs would devastate the American economy. A meltdown in the price of US shares means the value of pension funds across the world including the UK falls too, as most “defined contribution” pension funds are invested at least partly in the US.
The NASDAQ market, which has a particular focus on technology stocks, has fallen in value by more than 10% in one month, as trading continued today. Big losers include Tesla, the electric car firm led by Donald Trump’s ally Elon Musk, is down 31% in one month. The better-known Dow Jones, an index of 30 top companies, was down more than 4% in one month.
Mr Trump dismissed business concerns over the uncertainty caused by his planned tariffs on a range of American trading partners, as well as the prospect of higher prices, but was unable to rule out the possibility of a recession in America this year.
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US economy meltdown as Donald Trump's tariffs spark stock market frenzy
- by: Jonathan Walker
- 2025-03-10
- Source:
Express
- 03/11/2025
New York Stock Exchange by Daniel Foster is licensed under flickr https://creativecommons.org/licenses/by-nc/2.0/
