Stock markets stumble as global trade faces more Trump tariff uncertainty

US president’s international trade war spooks investors, with drops in US share prices after European losses

Stock markets stumbled on Monday as Donald Trump pushed ahead with fresh tariffs on the US’s trading partners despite a supreme court strike-down and growing opposition from domestic voters.

Uncertainty over the status of global trade deals spooked investors, trigging a drop in US shares prices including on the Dow Jones industrial average, which tumbled 1.4% in morning trading. The S&P 500 and Nasdaq 100 also fell 0.9% and 1.1%, after losses for European stock markets.

Shareholders were struggling to discern the next steps in Trump’s global trade war, after the US supreme court ruled on Friday that the president overstepped his legal authority by using emergency measures to impose tariffs on countries across the world last year.

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