Stock markets from Ireland to Japan hit and oil price slumps as Trump targets Mexico trade

Global shares and the price of oil slumped, as President Donald Trump shocked markets by opening a new front in his world trade wars by setting a tariff demand on Mexico.

Shares had shown signs earlier this week of staging some sort of recovery from last week’s escalation in the US-China trade war but the president’s latest tweeted threat on the $350bn (€314bn) the US imports from Mexico means the relief has been short-lived.