Many global stocks were sharply lower in Monday’s trading over continuing fears of a trade war, Brexit, an upcoming U.S. Federal Reserve meeting, and trouble with Facebook.
The Dow Jones Industrial Average and Standard & Poors-500 were both down more than one and a half percent while the tech-heavy NASDAQ was off more than 2 percent.
European markets also dropped over news of a possible deal for Britain’s total exit from the European Union.
President Trump’s efforts to raise tariffs on steel and aluminum imports to the U.S. are raising concerns of a trade war, and that makes investors nervous.
Also Monday, reports emerged that a data company associated with the Trump campaign and working for tech giant Facebook improperly gained access to information on tens of millions of users.
The price of Facebook shares plummeted 7 percent Monday, shaking up tech stocks in general.