US stocks plunged, bitcoin stumbled and Wall Street’s fear gauge hit its highest level this year as concerns about President Donald Trump’s economic policy led to a widespread market selloff on Monday.

Stocks fell on Monday as Wall Street’s fears tied to President Donald Trump’s tariffs continue to pressure the market and investors wait for new economic data.

The US stock market has taken another hit following President Donald Trump's refusal to rule out a recession with the Dow plummeting more than 300 when trading opened this morning. Investors continued to be spooked by the trade war launched by the White House with tariffs of up to 25 per cent hitting Canada,