World markets plunge with Japan’s Nikkei dropping nearly 8 percent

World markets plunge with Japan’s Nikkei dropping nearly 8 percent

Japan’s Nikkei Stock Average plunged more than 2,900 points Monday at the Tokyo Stock Exchange, the third largest fall on record during trading hours, due to the impact of US President Donald Trump’s tariffs.

(AP) U.S. stocks are swinging Monday following a manic morning where indexes plunged, soared and then sank again as Wall Street tossed around a false rumor about President Donald Trump’s plans for his trade war.

After trading began, the S&P 500 quickly sank 4.7% following even worse drops for financial markets worldwide amid worries that Trump’s tariffs could torpedo the global economy. But it suddenly erased all of it and surged to a gain of 3.4%, which would have counted as its best day in years. Almost as quickly, the index that sits at the heart of many investors’ 401(k) accounts gave that up and was roughly flat in midday trading.

Other U.S. stock indexes also careened through shocking trading. The Dow Jones Industrial Average went from a loss of 1,700 points to a leap of nearly 900 before settling at a loss of 272 points, or 0.7%, as of 11 a.m. Eastern time. The Nasdaq composite was 0.7% higher.

Courtesy: NBC News Channel

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