Stocks take tumble as Trump resparks fears over global trade war - and 40,000 Irish jobs in US pharma plants

Speaking on Fox News, US President Donald Trump seemed to hint towards trade reductions: "It’s not only China, you take a look at Ireland. They make our drugs. Everybody makes our drugs except us."

European stock markets went into a tailspin following comments by President Donald Trump that raised fears of a new bout of US-China world trade ructions -- and an explicit threat to the future of many of the 40,000 jobs at the US pharma giants in Ireland.

The main European stock indices closed almost 2.5% lower on Monday after the late Sunday interview when President Trump told Fox News raised concerns over the US relying on supply chains in China and again suggested too many US manufacturers such as big pharma have operations outside of the US, including in Ireland.