US markets fall as the prices are fears of recession

Emma Haslett

Journalist

Getty images

The global markets fell for a third day on Monday as fears of the world's impact of Donald Trump prices were continuing.

The European markets closed lower, the FTSE 100 in London down 4.4% to 7,702, its lowest level in more than a year. The actions of Paris and Berlin have also dropped.

Exchanges on the main American stock market indices had been tightened – the shares initially dropped by more than 4% before becoming briefly positive on a rumor that the American president was considering a break on the introduction of import taxes.

The White House declared this “false news” and the S&P 500, the Nasdaq and the Dow Jones resumed their journey down although the drops were not as stiff.

Last Wednesday, Trump announced prices on the trade partners of the United States.

The next day, the stock markets in the United States and the United Kingdom have experienced their worst day from the start of the pandemic, more than 5 billions of dollars (3.9 TN) were erased from the S&P 500.

At the start of negotiations on Monday, the drop in the S&P 500 has been briefly extended to more than 20% from a peak in February, putting it in the lower market.

Economists have hypothesized that many countries would try to negotiate agreements with the United States on prices.

But Trump doubled, telling journalists on Sunday evening that “sometimes you have to take medication to repair something”.

And later on Monday, he threatened to hit imports from China with an additional 50%rate, unless Beijing withdraws the reprisal measures she announced last week.

This would take the Chinese goods tax in the United States at least 104%-because it is added to the 34% rate that he announced on the goods of China last week, which has themselves added to the price of at least 20% imposed since January.

China's decision to impose 34% reprisal rates in the United States had already increased concerns about a trade war between the two nations

If world leaders are unable to agree with Trump, prices can have a destructive effect on world -class economies, analysts warned.

“Basically, investors are very worried about companies [profits] And a massive slowdown in economic growth, “said RUSS MLUD, director of investments at AJ Bell.

Uncertainty continued to weigh on the price of oil which dropped by more than 4%.

Meanwhile, copper, an indicator of economic growth because it is widely used in industry, closed more than 7% less on Friday.

The price of gold, which is generally considered to be a “safe” investment, has also dropped slightly.

The US investment banks on Monday, Goldman Sachs, increased the probability of a recession in the United States from 35% to 45%.

Last week, after China retaliated against the United States with its own prices, JP Morgan planned, there was 60% of the world's greatest economy enter into a slowdown.

In a letter to shareholders on Monday, the director general of JP Morgan, Jamie Dimon, said that the prices “will probably increase inflation and force a lot to consider a greater probability of recession”.

He wrote: “That the price menu causes a recession remains in question, but that will slow growth.”

In the United Kingdom, this could mean a 0.8% drop in economic growth this year, KPMG economists plan.

“There is a strong incentive to request a negotiated regulation which decreases the need for prices,” said Yael Selin, chief economist of KPMG.

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