By Marc Jones
London (Reuters) -Balow are some of the substantial financial market movements inspired by the actions of US President Donald Trump in recent weeks of his re -loss of a global trade war to the signal that Europe can no longer assume the support of the US military muscle as a matter of course.
It is almost easier to sum up the parts of the market that are not bumped than those who have done that. The numbers are large. About $ 5 trillion wiped from the value of world shares, most of those of American markets and the super -large technology companies that have played on stratosferic runs in recent years.
King Dollar is a pin or two in the midst of the worries that a global trade war in combination with a massive clearance of government employees will finally put the brakes on the American economy.
Euro and Yen have lit their own fires thanks to the massive defense spending plans of Europe and the interest rate increases of the Bank of Japan.
“We have seen changes in the nearly two months since President Trump was inaugurated,” Bill Clinton’s Minister of Treasury Larry Summers placed on X, with the expectations of the election night of an unbridled economy and our “exceptionality” evaporated under Trump.
Brent crude oil has so far taken 2% this month, with annual losses of almost 5%, a sign that also position raw materials traders for a weaker global demand.
Without COVID-19 and the enormous peak in inflation and interest rates to which it led in 2022, this would be the worst start of Wall Street to a year since the depths of the financial crisis.
In the past month, the shares of the so -called beautiful seven – alphabet (Googl), Amazon (Amzn), Apple (AAPL), Meta (Meta), Microsoft (MSFT), Nvidia (NVDA) and Tesla (TSLA) – were waived and mostly with 10%-15%.
The Tesla shares are hit even harder, crash 30% in the course of the month and seeing their largest one -day dive in four and a half years earlier this week.
Activists have recently organized the so -called ‘Tesla (TSLA) Takedown’ protests to express anger about the role of Musk in radical cuts on the federal workforce commissioned by Trump and cancellation of contracts that are financing humanitarian programs around the world.
Subsequently: March 13 at 4:00 pm Edt
Musk, the world’s richest person, leads the spearhead of the Ministry of Government Efficiency of the Trump administration or Doge.
“They harm a great American company,” said Trump in the White House, referring to the demonstrators, next to Musk who wore a black “Make America Great Again” baseball cap.