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This Is Why

Market turmoil: Are we heading for a global recession?

This Is Why

Sky News

Daily News, News, News Commentary

4.0552 Ratings

🗓️ 7 April 2025

⏱️ 19 minutes

🧾️ Download transcript

Summary

Today has seen chaos on global stock markets, with price plunges reminiscent of the famous Black Monday crash of 1987. Back then, the causes were unclear, whereas today there's no doubt - Trump's "liberation day" tariffs have spooked the markets.  
  
In 1987, people feared Black Monday was a sign of a global recession. They were wrong. Are we right to have the same fears today?  
  
Tom Cheshire is joined by Sky's Darren McCaffrey and stockbroker Russ Mould to discuss what might come next. 
       
Producers: Tom Pooley 
Editor: Philly Beaumont  

Transcript

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0:00.0

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0:32.7

whispering because as the queen, queen of social media, it's about time for my ASGMR series.

0:39.9

So I'm recording this on my phone and then I'm going to use Canva to edit and upload it.

0:45.0

Oh, sorry, babes. I'll make that a whisper when I edited.

0:49.3

Anyways, Canva makes social media edit so easy. I'll upload this in a minute.

0:55.8

Canva make social media edit so easy. I'll upload this in a minute. Canva, make everything iconic.

0:58.5

How do I stop recording, Darren?

1:02.3

They're calling at the Monday Massacre, the worst drop in Wall Street history.

1:07.4

One Monday in October 1987, global stock markets suddenly crashed.

1:12.2

Hour after hour today, wave after wave of selling hit the stock market.

1:16.8

A selling panic the professionals call it.

1:19.4

It was known as Black Monday.

1:21.2

1.71 trillion dollars were wiped off global markets.

1:25.2

Fears rose that this would spark a repeat of the Great Depression of the 1930s.

...

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