A stock market rout, historic in scale, has swept across the globe wiping more than $10 trillion off major markets, as concerns about the economic damage unleashed by U.S. President Donald Trump's tariffs spiral.

The market chaos unleashed by Donald Trump’s trade war continued for a third day as stocks, bonds and commodities all swung wildly, buffeted by both fears of a recession and speculation the financial damage will drive the Republican president to change course.

President Donald Trump’s sweeping new tariffs are facing blowback from all corners – a market sell-off, foreign retaliation, anger from corporate America and skepticism from the Federal Reserve chairman and some allies in Congress.