International stock markets tumble as Trump calls tariffs ‘medicine’

International stock markets have fallen dramatically overnight amid fears of a global trade war following Donald Trump’s sweeping tariffs, which he called “medicine”. Japan’s Nikkei 225 stock index dived nearly 8%, Australia’s S&P/ASX 200 fell more than 6%, and South Korea’s Kospi lost 4.4%. Meanwhile US stock market futures signalled further weaknesses, with the future for the S&P 500 losing 4.2% and the Dow Jones Industrial Average falling 3.5%, while the future for the Nasdaq lost 5.3%. Mr Trump warned foreign governments would have to pay “a lot of money” to lift his tariffs, which he described as “medicine”. “I…