The recent imposition of tariffs by President Donald Trump has led to severe economic repercussions for global markets, with particularly heavy losses observed in Asia and a notable downturn on Wall Street, marking the S&P 500's entry into bear market territory for the first time since 2022. Trump's refusal to reconsider these tariffs, deemed by him as necessary 'medicine', has exacerbated investor anxiety, prompting a significant sell-off as traders shift towards safer investments in government bonds amid ongoing economic instability.
"The S&P 500, the benchmark US stock index, entered bear market territory on Monday for the first time since 2022. During a downtrend, more people are looking to sell than buy stocks."
"President Trump has shown no signs of backing down, calling the global market turmoil a necessary 'medicine'."
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