Trade Turbulence: US Markets Reel from China's Retaliatory Tariffs

US companies faced another blow in the stock market as China matched President Trump’s tariffs, intensifying the trade war. Key sectors like aerospace, agriculture, and technology took major hits, leading to fears of an upcoming recession. Market indexes reported substantial declines amid a tumultuous economic landscape.

US businesses faced another setback in the stock market Friday as China retaliated with tariffs matching President Donald Trump's, marking an escalation in the trade war.

Various sectors endured hard hits after US firms reported a $2 trillion loss a day earlier, the biggest drop since the global economy was punched by COVID-19 five years ago.

With the Commerce Ministry in Beijing responding to the 34% tariffs imposed by the US on Chinese imports by imposing the same on US products, many US companies experienced significant reductions in stock value.

(With inputs from agencies.)