Global Markets Plunge Amid US-China Tariff Escalation

Global stock markets faced a massive downturn due to heightened US tariffs and Beijing's retaliatory actions. European, Asian, and US markets saw significant losses, reflecting investor uncertainty. The escalating trade war between the world's largest economies, the US and China, raises fears of a potential global recession.

On Monday, global stock markets tumbled in response to increased US tariffs and a retaliatory stance from Beijing, leading to widespread sell-offs. European indices echoed the declines in Asia, with Germany's DAX dropping 6.5% and significant losses observed across Paris and London markets.

The US market didn't escape the downturn, as predictions indicated future declines for major indices like the S&P 500 and Dow Jones. This turmoil, the worst since the COVID crisis, reflects fears surrounding the ongoing US-China trade war, threatening to tip the global economy into recession.

Key markets in Asia also felt the impact, with Tokyo's Nikkei 225 falling 7.8% and further declines noted in Hong Kong and Shanghai. Observers expect continued volatility as international trade tensions persist, with analysts highlighting the uncertain economic outlook for export-reliant nations.

(With inputs from agencies.)