Trump touts trade talks as global markets tumble

WASHINGTON

President Donald Trump said Monday that countries worldwide are seeking to enter into negotiations with the US after he imposed sweeping tariffs on foreign imports sparking a global market meltdown.

The president said the US "has a chance to do something that should have been done DECADES AGO. Don't be weak!" promising his supporters that "GREATNESS will be the result!"

"Countries from all over the World are talking to us. Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate!" Trump said in a series of morning Truth Social posts.

"They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other “things.” It all has to change, but especially with CHINA!!!" he added.

Trump's rollout last Wednesday of his "reciprocal tariff" policy has sent investors around the world reeling amid fears that they will drive up consumer prices and could spark a global recession.

US markets opened sharply lower Monday for the third straight day following sell-offs in European and Asian markets. The Dow Industrial Average was down 3% Monday while the Nasdaq sank 2.5%​​​​​​​

The Asia Dow, which tracks leading blue-chip companies across the region, fell 9.48% to 3,626.77 points as of 1430GMT.

Japan’s Nikkei 225 index lost 7.8%, closing at 31,136.58 points.

The Hang Seng Index, a key benchmark for Hong Kong's blue-chip stocks, plunged 13.22% to close at 19,828.30 points – its worst single-day performance in 16 years.

China’s Shanghai Stock Exchange dropped 7.34% to 3,096.58 points, while India’s Sensex index shed 2.95%, closing at 73,137.90.

Germany's DAX index posted a loss of around 4.4% to 19,727.93 Monday as of 1430GMT.

Britain's FTSE100 index lost 4.4% to 7,702.71 points and France's CAC 40 index dropped 4.65% to 6,936.64.

The pan-European STOXX 600 index also fell 4.8% to 472.46.