The VIX, Wall Street’s volatility index, spiked to an eight-month high amidst a sharp decline in US stocks triggered by China’s imposition of new tariffs on all American goods. This move escalated trade tensions, following President Trump’s recent tariff declaration. The global markets, including European and Asian indices, experienced substantial losses in response to the heightened uncertainty. Despite robust hiring figures in the US, the market turbulence has sparked concerns about a potential recession looming ahead.