Stock markets: FTSE 100 plummets and Dow tumbles 254 points amid recession fears

Monday marked another black day for the markets, still reeling from the tariffs announcement made last Wednesday by US President Donald Trump. The FTSE 100 closed down 4.38% or 352.90 points at 7,702.08, a plunge that marked a third day of heavy falls for the London market. In Europe, the DAX in Germany was also down, by 4.3%, while France's CAC was down 4.8%, and Italy's FTSE MIB was down 5.2%. Spain's IBEX saw a performance similar to the Italian market, being down 5.1%.

In the US, the Dow Jones tumbled 254 points, while the S&P 500 inched down 0.2%, around 19% below its closing record. The key index has lost more than 20% since setting a record less than two months ago. If the S&P 500 finishes the day below that mark, it's a big enough drop to call a "bear market", which signifies a downturn beyond a 10% drop. This happens every year or so. The Nasdaq Composite added 0.4%, while Nvidia and Palantir popped around 3% and 4% each.

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