LONDON: Stock markets and oil prices collapsed on a black Monday for world markets, as US President Donald Trump stood firm over his tariffs, despite fears of a global recession.

Trading floors across the globe were overcome by waves of further selling after last week’s sharp losses, with Trump telling Americans to “be strong, courageous, and patient,” minutes before the New York stock market opened to drops of over 3pc.

Wall Street was wracked by volatile trading, bouncing into positive territory on hopes of a 90-day pause in tariffs, only to sink lower when those were dashed by the White House. Trillions of dollars........

© Dawn Business