Global Markets Reel as Trade War Intensifies

Global financial markets are experiencing a severe sell-off spurred by escalating US-China trade tensions. Major indices, including the S&P 500 and Dow Jones, plunged dramatically. Despite positive US job market data, fears of a potential global recession linger, while retaliatory tariffs and geopolitical uncertainties contribute to market volatility.

Global financial markets experienced a brutal sell-off as escalating trade tensions between the US and China reached new heights. The S&P 500 plummeted by 5.7%, while the Dow Jones Industrial Average faced a massive drop of 2,054 points. The Nasdaq composite also fell significantly amidst fears of a deepening crisis.

This turmoil follows China's retaliatory move to match President Donald Trump's tariffs, sparking fears of a prolonged trade war. Despite a promising US jobs report, which could not stem market declines, concerns persist about the long-term economic impact. Wall Street shows anxiety over a potential global recession as the S&P 500 remains 16% below its February record.

Experts continue to debate whether the trade war might bring about a global recession. Nevertheless, uncertainty looms over global markets, with European stocks experiencing significant losses. As countries deliberate on negotiations, investors watch for the speed and effectiveness of potential resolutions. Meanwhile, tariffs are causing jitters in various sectors, adding to economic instability.

(With inputs from agencies.)