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3. Trade War: World Markets Plunge Under the Weight of New Taxes

Global markets are reeling from Donald Trump's trade war and Chinese retaliation, causing serious concerns for the global economy. After two days of decline, the European stock markets plunged to an all-time low, with indices such as the DAX and CAC 40 sharply down.
In Asia, markets suffered a “Black Monday,” with Hong Kong recording its worst fall since 1997. Trump remains adamant, claiming that these measures are necessary to redress trade deficits and that the market downturn is unintentional.
The US is imposing a minimum of 10% tariffs on all imports, with increases planned for certain partners, including the EU and China.