Major U.S. and European stock indexes 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 the Standard & Poor’s 500 index were both down nearly 1.5 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 Donald Trump’s efforts to raise tariffs on steel and aluminum imports to the U.S. are raising concerns of a trade war, which is making investors nervous.
Also Monday, reports emerged that a consulting company associated with Trump’s 2016 presidential campaign and worked with tech giant Facebook improperly gained access to information on millions of Facebook users.
The price of Facebook shares plummeted 7 percent on Monday, shaking up tech stocks in general.