A swift loss of £4tn from global stock markets has led some to liken Trump’s trade war to 1929 Wall Street crash
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Donald Trump’s escalating trade war has plunged global financial markets into the steepest rout since the spread of the Covid pandemic five years ago.
Drawing parallels with the 1929 Wall Street crash and the ensuing 1930s Great Depression, the US president’s “liberation day” tariff plan has led to warnings of a global recession from leading economists.
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