Global stock markets witnessed a sharp decline following China’s retaliation against the US through imposing substantial new tariffs, sparking concerns of a worldwide economic downturn. The S&P 500 recorded its most significant drop since 2020, alongside notable decreases in the Dow and Nasdaq. American companies heavily reliant on the Chinese market suffered substantial losses as a result of the escalating trade tensions.

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Global markets plummet as China retaliates with tariffs, sparking recession fears; S&P 500 suffers worst drop since 2020.
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“Global markets tumble as China retaliates against US tariffs, Dow Jones plunges, tech giants hit hard”
