Trade Turmoil: The Global Economic Shockwaves

Global stock markets have suffered significant losses as the trade war between the U.S. and China intensifies. Beijing's announcement of retaliatory tariffs led to further market declines, with fears of a looming recession growing. Political and economic leaders express concern over the tariffs' impact on global economies.

Global stock markets faced another steep decline as China announced retaliatory tariffs against U.S. President Donald Trump's trade policies, deepening existing economic tensions. As a result, fears of a possible recession are escalating among investors.

The Nasdaq Composite has entered a bear market, while the Dow Jones Industrial Average and other indices have shown significant declines. Beijing's decision to impose controls on rare earth exports intensifies the economic confrontation between the two superpowers.

The amplified trade conflict impacts other nations as well, with leaders around the world preparing retaliatory responses and voicing concerns about the tariffs' potential to incite global economic instability.

(With inputs from agencies.)