It would definitely take down the communication lines. For electronic cars that are running at the time, the battery might still function since it's mostly chemically based, but all of the electronic driving assist functions would be taken out for every kind of car, not just the electronic ones. And considering how much of our economy - scratch that, business in general - is digitally based, yes, it'd make the world economy grind to halt.
It wouldn't set off nuclear WMD's, however, because all nukes come with fail safes to prevent that from happening. Unless they're being built in some terrorist's bunker.
As long as the technology isn't running on electricity when the EMP goes off, however, it should survive. So as long as it's unplugged, the batteries removed, and disconnected from any long antennas or wires, it should still work afterwards as long as the EMP wasn't too concentrated by nearby metal objects.
Alternatively, if you put all of your stuff in a Faraday cage, it'll also survive an EMP