Wall Street’s three main indexes opened in the red, with the tech-heavy Nasdaq falling two percent. Trump’s on-again, off-again tariff threats against Canada, Mexico, China and others have left the US financial markets in turmoil. London, Paris and Frankfurt stock markets were all lower in afternoon deals, with German shares also hit by concerns that the country’s next chancellor may struggle to push through a massive spending plan. Traders also reacted to weekend data from China showing that consumer prices fell 0.7 percent in February, the first drop in 13 months. Hong Kong and Shanghai stock markets fell, while Tokyo finished higher. The European Union said on Monday the Trump administration did not appear to want to make a deal that could avoid tariffs against the 27-nation bloc. The news that Germany’s soon-to-be chancellor might not have free reign over Berlin’s purse strings has limited euro upside for now, analysts said. The prospect of a recession in the US is lurking, with consumer confidence falling, companies facing increasing trade complexity and investors turning more nervous.