Global Markets Plunge Amid Escalating U.S.-China Tariff War

Global markets faced significant turmoil as fears of a trade war escalated following President Trump's announcement of new tariffs, which prompted China to retaliate with its own tariffs starting April 10. The S&P 500 recorded its worst week since March 2020, dropping 6%, while the Dow Jones fell 5.5%, showcasing widespread losses across major indices. Commodities were heavily impacted, with crude oil prices plummeting to their lowest since 2021, and silver experiencing a severe decline of over 14%. Federal Reserve Chair Jerome Powell indicated that the tariffs would likely contribute to higher inflation and slower economic growth, exacerbating market anxieties. European stocks mirrored these declines, with significant drops in indices like the German DAX and the French CAC 40, as leaders urged companies to reconsider investments in the U.S. The overall sentiment remains bearish as traders brace for potential economic fallout from ongoing trade tensions.