Markets brace for volatile week as leaders weigh up retaliation to Trump’s tariffs

News Snapshot:

Markets are braced for another rollercoaster week as the most punitive of Donald Trump’s tariffs kick in and world leaders weigh up retaliatory action, adding to fears of a global recession. Stock indices plunged by nearly $5tn last week, with markets in the UK and US suffering losses not seen since the early days of the Covid-19 pandemic, as investors took cover from the opening salvoes of a global trade war. With no sign of the Trump administration rowing back on its so-called “liberation day” tariffs, analysts warned of persistent market turbulence and an increased risk of all-out recession in...