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Global stock markets tumble, bonds rally on recession fear

Monday's rout extends a two-day selloff that wiped trillions of dollars from equity values after U.S. President Donald Trump's administration announced sweeping tariffs last week. The lack of reaction from Trump and from Bessent, in terms of their concern levels appearing to be very, very low in terms of the market dislocation. If there isn't some sort of walking back of the announcements, then we’re heading for a liquidity event and liquidity will get sucked out of these markets big time across all asset classes.

Tesla Bull Slashes Stock Price Target 43%, Citing Musk and Trump

(Bloomberg) -- One of Wall Street’s most bullish Tesla Inc. analysts slashed his price target for the stock by 43%, citing a brand crisis created by Chief Executive Officer Elon Musk and US President Donald Trump’s trade policies.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideThe Irish Hot Press Is the Low-Tech Laundry Trick the World NeedsWhat W

Trump compares tariffs to 'medicine' as Asian markets convulse

ABOARD AIR FORCE ONE (Reuters) -U.S. President Donald Trump said on Sunday foreign governments would have to pay "a lot of money" to lift sweeping tariffs that he characterized as "medicine," prompting further carnage in global financial markets. Asian stocks posted steep losses in early trading on Monday and U.S. stock market futures opened sharply lower as investors registered concerns that Trump's tariffs could lead to higher prices, weaker demand, lower confidence and potentially a global recession. Speaking to reporters aboard Air Force One, Trump indicated he was not concerned about losses that have already wiped out trillions of dollars in value from share markets around the world.