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World Stocks Slump on Fears of Escalating Trade War

March 2, 2018

LONDON — Stock markets declined broadly in Europe and Asia on Friday, following a sharp drop in the United States, after President Trump rattled financial markets by saying he would impose strict tariffs on steel and aluminum imports.

The Nikkei 225 fell 2.5 percent in Japan on Friday, and the Hang Seng Index in Hong Kong closed down 1.5 percent.

Major indicies in Europe also were down broadly, with the CAC 40 in France and the Xetra Dax 30 in Germany declining about 2 percent in early trading. The Stoxx Europe 600 index saw nearly every sector in negative territory on Friday morning.

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