Markets Plunge as Trump Stands Firm on Trade War with China
Wall Street faced its worst decline since 2020 as Trump doubled down on tariff policies against China, sending the S&P 500 near bear market territory. The President remained unmoved by market turbulence while global stocks tumbled and U.S. companies with Chinese exposure suffered significant losses.
Global Markets Plunge as Trump Unveils Unprecedented Import Tariffs
U.S. stock markets suffered their worst decline in five years following President Trump's announcement of sweeping new import tariffs affecting major trading partners. The dramatic policy shift threatens to disrupt global trade and push economies toward recession, with tariffs ranging from 10% to 46% on imported goods.
Yuan Weakens Amid US-China Trade Tensions While Yen Strengthens
Chinese currency faces downward pressure as Beijing announces retaliatory measures against US tariffs, highlighting growing market uncertainty. Meanwhile, Chinese tech shows resilience with DeepSeek's new chatbot launch, though trade concerns persist.