JOHANNESBURG, April 7 (Reuters) - The South African rand slumped to its weakest in well over a year on Monday and local stocks extended their recent slide as global recession fears mounted over U.S. President Donald Trump's sweeping tariffs.

At 0815 GMT, the rand traded at 19.4025 against the dollar ZAR=D3, down 1.5% on Friday's closing level after earlier touching its weakest since October 2023.

Trump showed no sign of backing away from his tariff plans on Sunday, and investors worldwide were pouring into "safe-haven" currencies like the yen and Swiss franc on Monday. The rand is highly sensitive to risk and tends to be dumped at times of global market uncertainty.

Another factor behind the rand's recent plunge - it lost more than 3% against the dollar last week - is local politics.

The two biggest political parties in South Africa's government have clashed over the national budget. The prospect of the junior partner - the pro-business Democratic Alliance - exiting or being forced out of the coalition has investors worried.

On the Johannesburg Stock Exchange, the Top-40 index .JTOPI was down 5% at one stage before paring losses to trade down about 3%.

The benchmark 2030 government bond ZAR2030= fell in early deals, as the yield rose 8 basis points to 9.49%.

(Reporting by Sfundo Parakozov;
Editing by Alexander Winning and Joe Bavier)

((Sfundo.Parakozov@thomsonreuters.com))