Sky News Daily Market turmoil: Are we heading for a global recession?
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Apr 7, 2025 Recent turmoil in global stock markets has caused echoes of the infamous Black Monday crash. Experts dissect how Trump's tariffs are influencing trading chaos today. They compare the lingering fears of a recession with historical context, while examining the future of globalization. Focus shifts to the resilience of economies in the UK and the U.S., alongside potential strategies for sustainable growth through investments in labor and productivity. Will we navigate this economic storm successfully or face a downturn?
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Black Monday 1987
- On Black Monday (1987), $1.71 trillion vanished from global markets, causing widespread panic.
- Despite fears of another Great Depression, the markets recovered.
2025 vs. 1987
- Today's market turmoil (April 7, 2025) draws comparisons to Black Monday, but the cause is different.
- Trump's "Liberation Day" tariffs are the clear trigger for the current market instability.
Asian Market Impact
- Asian markets experienced significant drops, with Hong Kong's stock exchange falling 13%, its biggest fall since 1997.
- This turmoil is driven by uncertainty around the permanence of Trump's tariffs and their impact on global trade.