# Stock markets and oil prices collapsed further today as US president Donald Trump stood firm over his tariffs despite recession fears. Trading floors across Asia and Europe were overcome by waves of further selling after last week’s sharp losses. Hong Kong’s drop of 13.2-percent today was its worst in nearly three decades. Taipei stocks suffered their worst fall on record, tanking 9.7-percent today, while Frankfurt plummeted as much as 10-percent and Tokyo closed down by almost eight-percent.
Stock markets collapse as Trump stands firm on tariffs