The global stock market is in free fall.
US stocks plummeted after opening on Monday.
The S&P 500 entered bear market territory.
This means it’s down 20% from its last high.
Global markets are worried about US President Donald Trump’s new tariffs.
These tariffs could hurt the global economy.
The Dow Jones index fell over 1,200 points.
The Nasdaq fell nearly 4%.
This is the second-fastest drop into a bear market in history.
The fastest was in 2020 during the COVID-19 pandemic.
Other global markets are also down.
The UK’s FTSE 100 hit a one-year low.
Germany’s DAX fell over 4%.
France’s Cac 40 fell 4.7%.
Despite the chaos, President Trump is confident in his tariffs.
He posted on social media that the US is “on the verge of doing something great.”
He told Americans to be strong and patient.
Trump said the outcome will be “tremendous.”
Source: BBC News