Global Markets in Turmoil as Trump's Trade Tensions Escalate

Major stock indexes in Asia plunged due to escalating tensions between the U.S. and China over trade tariffs. Investors fear a recession might prompt the Federal Reserve to cut interest rates, affecting markets globally. Oil prices dropped, and the financial chaos spread to Europe, impacting currencies.

Major stock indexes plummeted across Asia on Monday, reflecting investor anxiety over escalating trade tensions between the United States and China.

U.S. President Donald Trump's determination to enforce sweeping tariffs has heightened fears of a global recession, leading to predictions of a series of interest rate cuts by the Federal Reserve this year.

The market turmoil spread to Europe, with significant losses recorded across the continent's major indices, while oil prices fell sharply in response to the glum economic outlook.

(With inputs from agencies.)