Global markets plunged after China retaliated against U.S. tariffs, deepening fears of a drawn-out trade war and economic fallout.
Stock market turmoil has deepened as China retaliated against tariffs announced by U.S. President Donald Trump, heightening fears of a prolonged trade war and wider damage to the global economy.
China imposed a 34 percent tariff on U.S. goods, marking its most significant countermeasure so far.
By the close of trading on Friday, the Dow Jones Industrial Average had dropped 5.5 percent, the Nasdaq Composite was down 5.8 percent, and the S&P 500 had fallen nearly 6 percent.
In total, the three major indices recorded their worst two-day slump since March 2020, when the COVID-19 pandemic first shook the global economy.
The sharp declines, which echoed losses in markets worldwide, came after Trump’s Wednesday announcement of sweeping reciprocal tariffs on nearly all U.S. trading partners. These included a baseline 10 percent tariff on most countries and targeted tariffs as high as 50 percent on more than 60 nations.
Trump, who has vowed to reshape the global trade order, dismissed concerns over market turbulence, instead highlighting the strength of the U.S. labor market.
Analysts say the tariffs, some of which are set to take effect as early as Saturday, amount to the largest tax increase in the United States since 1968.
President Donald Trump says the U.S. is unlikely to push Israel to end its airstrikes on Iran, calling it “very hard” to make that request while Israel is gaining ground militarily.
Iranian foreign minister Abbas Araghchi says Tehran will continue to defend itself unless Israeli strikes stop, following high-level talks in Geneva with the foreign ministers of the UK, France, Germany, and the European Union’s top diplomat.
Tajikistan and China have agreed to establish a Joint Working Group on Artificial Intelligence, following high-level talks between President Emomali Rahmon and President Xi Jinping in Astana earlier this week.
Russian President Vladimir Putin used the platform of the 2025 St. Petersburg International Economic Forum to reinforce his vision of Ukraine as a neutral state aligned with Russia, warn of rising global conflict potential, and outline conditions for foreign firms to return to Russia.
Switzerland has announced the lifting of a wide array of economic sanctions on Syria, including measures targeting the country’s central bank. The move follows a series of international steps aimed at supporting Syria’s recovery after the fall of former president Bashar al-Assad in December 2024.
President Donald Trump says the U.S. is unlikely to push Israel to end its airstrikes on Iran, calling it “very hard” to make that request while Israel is gaining ground militarily.
Iranian foreign minister Abbas Araghchi says Tehran will continue to defend itself unless Israeli strikes stop, following high-level talks in Geneva with the foreign ministers of the UK, France, Germany, and the European Union’s top diplomat.
Tajikistan and China have agreed to establish a Joint Working Group on Artificial Intelligence, following high-level talks between President Emomali Rahmon and President Xi Jinping in Astana earlier this week.
Russian President Vladimir Putin used the platform of the 2025 St. Petersburg International Economic Forum to reinforce his vision of Ukraine as a neutral state aligned with Russia, warn of rising global conflict potential, and outline conditions for foreign firms to return to Russia.
The Kremlin said on Friday it could not predict whether Russian President Vladimir Putin and U.S. President Donald Trump would meet in person this year, citing the increasingly unpredictable nature of global affairs.
Iranian missiles struck multiple locations across Israel and neighbouring regions early Friday morning, including a Microsoft office complex, according to emergency responders and local media reports.
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
A high-speed tram derailment in central Gothenburg, Sweden, has left at least eight people injured late on Thursday (19 June), after the vehicle slammed into a snack bar on Avenyn Avenue.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
Germany’s producer prices dropped 1.2% year-on-year in May, in line with market expectations, largely due to falling energy prices, official data showed Friday.
The World Bank is pushing for “radical” debt transparency from developing countries to prevent future financial crises, warning that hidden debts are fueling instability.
European stock markets ended the day in negative territory following interest rate decisions by major central banks, including the U.S. Federal Reserve (Fed) and the Bank of England (BoE).
South Korea’s new administration proposed $14.7 billion in additional spending on Thursday to boost weak domestic demand, as President Lee Jae Myung pushes economic recovery as his top priority.
If the European Central Bank adjusts interest rates in the next six months, the move would likely be a cut, ECB policymaker Francois Villeroy de Galhau said on Thursday.
President Donald Trump says the U.S. is unlikely to push Israel to end its airstrikes on Iran, calling it “very hard” to make that request while Israel is gaining ground militarily.
Iranian foreign minister Abbas Araghchi says Tehran will continue to defend itself unless Israeli strikes stop, following high-level talks in Geneva with the foreign ministers of the UK, France, Germany, and the European Union’s top diplomat.
Tajikistan and China have agreed to establish a Joint Working Group on Artificial Intelligence, following high-level talks between President Emomali Rahmon and President Xi Jinping in Astana earlier this week.
Russian President Vladimir Putin used the platform of the 2025 St. Petersburg International Economic Forum to reinforce his vision of Ukraine as a neutral state aligned with Russia, warn of rising global conflict potential, and outline conditions for foreign firms to return to Russia.
The Kremlin said on Friday it could not predict whether Russian President Vladimir Putin and U.S. President Donald Trump would meet in person this year, citing the increasingly unpredictable nature of global affairs.
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