Donald Trump’s tariffs shook markets on Monday, with the US dollar surging, Asian markets falling and US stock futures sliding as investors rush to assess how the levies will affect America’s biggest trading partners.
The US dollar surged more than 1 per cent against a basket of currencies, sending the Canadian dollar to C$1.473 — the lowest level since 2003. Mexico’s currency slid by more than 2 per cent to 21.15 pesos a dollar while the euro fell 1 per cent.
US stock futures also fell sharply, with contracts tracking the benchmark S&P 500 losing 1.7 per cent and those tracking the Nasdaq 100 sliding 2.3 per cent. European futures also fell, with the Euro Stoxx 50 down 2.6 per cent.
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