TOKYO -- The mounting trade tensions between the U.S. and much of the rest of the world are taking a toll on markets as investors fret about the impact on corporate earnings and consumer spending.
Stocks worldwide have shed $2.5 trillion in market capitalization since Feb. 15, the day before the U.S. announced tariffs on steel and aluminum, falling to roughly $78 trillion. The value of global stocks has tumbled more than $7.2 trillion from the late-January peak, owing partly to rising interest rates in the U.S. making for a less-friendly macroeconomic environment.
