US stocks opened lower with the Nasdaq Composite entering bear market territory, dropping over 20% from its December peak. This decline followed China's decision to impose 34% tariffs on all US goods in retaliation for US tariffs, escalating the ongoing trade war. President Trump responded by criticizing China's actions, suggesting that they 'played it wrong' and urging caution in their response. The S&P 500 and Dow also experienced significant losses. Global markets reacted negatively, with European indices, including the UK's FTSE 100 and Germany’s Dax, suffering sharp declines.
The Nasdaq Composite opened lower as it entered a bear market, dropping over 20% from its peak due to new tariffs imposed by China in retaliation.
Trump criticized China's response to US tariffs, claiming they 'played it wrong' and panicked in their decision-making amid escalating tensions over trade.
Global stock markets fell sharply as the UK's FTSE 100 dropped about 4% after China announced reciprocal tariffs, reflecting widespread investor concern.
Major European indexes experienced significant declines, with Germany's Dax and France's Cac 40 also showing steep falls, highlighting the broad impact of trade tensions.
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