A sell-off fever has gripped the Japanese market. Fears of a US recession prompted Yen buying making the Japanese currency soar. However, that hurts Japan's exporters. Automakers were hammered.
The EU, China and Japan have decried the Trump administration's idea to also heap US tariffs on imported vehicles - on top of steel and aluminum. Washington's "national security" argument is "far-fetched," says Brussels.
The world's third-largest economy has slid into reverse for the first time in two years as a result of sluggish consumption and seasonal factors. But experts said it was not the beginning of a longer downswing.
Trump’s decision to end the Iran nuclear deal will hit the Iranian economy, although with China and the EU not on board the impact may be less severe than some fear. How Iran's banking system fares could tell us more.
Global markets continue to wobble precariously. European markets took a big hit on Tuesday, following major losses across Asia and particularly in Japan. Wall Street steadied after a torrid opening.
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