March 4 (Lagos) - Global markets kept crashing today as President Trump announced tariffs on Mexico, Canada and China. Canada responded with their own tariffs while Mexico said they will respond on Sunday. China also announced counter-tariffs but did not go the same extent as the US tariffs.
The tensions in the global stock markets have gone up strongly over the past week and stock markets have declined sharply around the world. The Dow jones was lower by more than 700 points at the time of writing this article.
Later today, President Trump is set to give the state of the union speech and has promised to tell as it is. Those words seem to have riled up investors as no body knows what to expect.
Yesterday, US paused all funding for the war in Ukraine after talks to end the war between Russia and Ukraine broke down over the weekend.
Even in Nigeria, stocks closed lower today led by declines in
ZENITHBANK ,
GTCO ,
UCAP and
UBA in the banking sector.