Trump tariffs drag global stocks down 10% in broad retreat

Apple, Aramco and JPMorgan among biggest losers amid trade and economic fears

Stock prices dropped sharply almost across the board after U.S. President Donald Trump's April 2 announcement of reciprocal tariffs. © Reuters

KONATSU OCHI

April 10, 2025 02:03 JST

TOKYO -- Global stock markets lost over $12 trillion in value -- roughly a tenth of the total -- in the wake of U.S. President Donald Trump's announcement of sweeping tariffs last week, a broad-based slump that spanned tech, finance and consumer staples.

Total global market capitalization stood at $107 trillion as of Monday, down from $120 trillion on April 2 before Trump's announcement, according to data from QUICK-FactSet.