The FTSE 100 was lower while European stocks rallied on Tuesday morning, following a punishing selloff for US markets as traders fret about a potential "Trumpcession".
The tech-heavy Nasdaq (^IXIC) lost 4% in its worst day since 2022, while the Dow Jones Industrial Average (^DJI) sank 890 points, to trade 2.1% lower.
Concerns about the US economy have become wrapped up in Trump's ongoing trade salvo, as tariff negotiations between the US, Mexico, and Canada dominate the headlines. In a Sunday interview on Fox News, Trump caused alarm by describing the economy as undergoing “a period of transition" when asked about the possibility of a recession.
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