Wall Street is sinking again, following other global markets lower, as worries deepen about whether President Donald Trump’s trade war will torpedo the global economy. The S&P 500 was down 3.8% in early trading Monday,

Most stock markets in the Gulf ended lower on Monday, as equities across the world tanked on fears of a global recession caused by U.S. President Donald Trump's sweeping tariffs and the escalating trade war.

Bank analysts are busy raising their estimates of the likelihood of a global recession this year. JPMorgan Chase now puts the chances at 60%. There are also more precise measures of investors’ expectations for global growth.