Mounting fears on Wall Street and in economies worldwide - after the trade wars Donald Trump said could cause "a little disturbance"

The Nasdaq Composite is down four-percent, the worst single-day loss since 2022.

Other major sharemarkets have recorded falls - and NZX 50 index also started the day down.

JMI Wealth Director, Andrew Kelleher, says tech stocks like Tesla, Apple and Nvidia are faring worst.

He says any loss of four-percent or more is "pretty ugly".