The market sell-off sparked by President Donald Trump’s vow to ramp up tariffs on China deepened on Tuesday, with global equities suffering one of their biggest declines of the year.
The US benchmark S&P 500 tumbled as much as 2.4 per cent in New York, before clawing back some of the losses in the last half-hour to end down 1.7 per cent.
Asian stocks had managed a tepid recovery from Monday’s sell-off, but the European FTSEurofirst 300 index ended Tuesday 1.4 per cent lower, its biggest one-day drop since February.
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