Global stock markets plummeted on Friday in response to China matching U.S. tariffs imposed by President Trump, fueling fears of a deepening trade war. The S&P 500 fell drastically, marking a steep downturn reminiscent of the early COVID-19 days. Market indices worldwide, including the Dow and Nasdaq, experienced significant losses, with European stocks suffering severe declines. The price of crude oil hit its lowest since 2021. While a better-than-expected U.S. jobs report offered some momentary relief, concerns linger regarding the potential for a global recession rooted in sustained trade hostilities.
The escalation in tariffs by both the U.S. and China has rattled global stock markets, leading to significant losses across indices as fears of a recession rise.
Despite a better-than-expected U.S. jobs report, fears surrounding the trade war have overshadowed positive economic indicators, leading to steep declines in global markets.
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