https://www.theglobeandmail.com/
Growing fears that U.S. President Donald Trump is willing to endure a recession to combat American trade deficits is sending stock market investors into panic mode, with the S&P 500 Index, the U.S. benchmark, extending its slide after wiping out all its gains since the U.S. election in November.
Over the weekend, Mr. Trump warned that his plan to bring more manufacturing back to the United States could lead to a “period of transition” – a gentle way of saying economic pain. Neither he nor his cabinet members walked the commentary back on Monday, and investors kept dumping stocks.
The S&P 500 slumped 2.7 per cent Monday, and the tech-heavy Nasdaq 100 Index was hit even harder, dropping 4 per cent. Both indexes are now trading below their early November levels as investors rethink their optimism about Mr. Trump’s promise of a pro-growth agenda.
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