Wall Street stock prices fell slightly on Monday, causing global stocks to follow suit, according to The New York Times.
Asian markets and European exchanges all fell on Monday after a slump on Wall Street. A sell-off left the S&P 500 index down 1.2 percent. Hong Kong had the largest losses in the Asian market with a fall of 1.8 percent, as anti government protesters swarmed the city’s airport for the second day.
Markets all around the globe have been spooked by the trade war between the US and China. Singapore even slashed its annual economic growth expectations to between 0 and 1 percent. Unexpected election results in Argentina caused the country's stocks and currency prices to plunge.
The ZEW indicator, a good indicator of the direction of the German economy, fell to 19.6 points, down from 44.1 points last month.
Achim Wambach, the president of ZEW, said, “The most recent escalation in the trade dispute between the U.S. and China, the risk of competitive devaluations, and the increased likelihood of a no-deal Brexit place additional pressure on the already weak economic growth.”