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US trade policy causes carnage on global markets as recession fears grow | Close of Business

Fears of an economic downturn spooked investors and sparked a $US4 trillion sell-off on Wall Street, as on-again-off-again tariff threats from the White House against allies like Canada and Mexico ramped up uncertainty. The Australian share market followed suit, tumbling to a 7-month-low, narrowly avoiding a technical correction, which is a 10% fall from the most recent peak. Leading independent economist Saul Eslake told Close of Business the moves from the US administration are creating volatility and uncertainty not just for investors, but US households who will ultimately carry the cost of tariffs. He spoke to business presenter Alicia Barry. #ABCBusiness Subscribe: https://ab.co/3yqPOZ5 Welcome to ABC News In-depth, where you'll find our long-form journalism and other videos to help you understand what's going on in the world around you. Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1 For more from ABC News, click here: https://ab.co/2kxYCZY Get breaking news and livestreams from our ABC News channel: / newsonabc Like ABC News on Facebook: / abcnews.au Follow ABC News on Instagram: / abcnews_au Follow ABC News on Twitter: / abcnews Note: In most cases, our captions are auto-generated. #ABCNewsIndepth #ABCNewsAustralia

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