Global Markets Shake as Trade Tensions Escalate

Global stock markets and oil prices fell sharply as China retaliated against U.S. President Trump's tariffs, heightening fears of a prolonged global trade war and economic downturn. Major indices, including the Nasdaq Composite and STOXX 600, faced significant losses, exacerbating investor concerns.

On Friday, global stock markets and oil prices experienced sharp declines as China retaliated against U.S. President Donald Trump's tariffs, intensifying concerns about an extended global trade war. The Nasdaq Composite neared bear market territory, while the STOXX 600 confirmed it was in a correction, heightening fears of a global recession.

S&P 500 companies witnessed a record two-day loss of over $4 trillion in market value since the tariff announcement, surpassing pandemic-era declines. In response, some investors turned to government bonds, and the dollar showed recovery from previous weakness.

China's decision to impose additional 34% levies on American goods intensified investor worries about a full-scale trade war. Meanwhile, sector-specific losses, particularly in technology and finance, continue to fuel broader economic fears as tariffs reshape global trade dynamics.

(With inputs from agencies.)