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.
The Middle East crisis intensifies after the deadly attack on Iran's Supreme Leader Ali Khamenei's compound on Saturday that killed him, wi...
Türkiye and Iran have suspended day-trip passenger crossings at their shared border, Türkiye's trade minister said Monday, as a ...
China’s Foreign Minister Wang Yi has held talks with his Russian counterpart Sergei Lavrov following recent mil...
Global air travel remained in turmoil on Monday after U.S. and Israeli strikes on Iran and retaliatory strikes in the Gulf region prompted widespre...
Uzbekistan has expressed deep concern over the rapid escalation of tensions in the Middle East, urging restraint and diplomatic resolution as ...
The Middle East crisis intensifies after the deadly attack on Iran's Supreme Leader Ali Khamenei's compound on Saturday that killed him, wife and other family members and senior figures. Iran has launched retaliatory strikes on U.S. targets in the region.
Türkiye and Iran have suspended day-trip passenger crossings at their shared border, Türkiye's trade minister said Monday, as a U.S.-Israeli military campaign against Iran entered its third day.
China’s Foreign Minister Wang Yi has held talks with his Russian counterpart Sergei Lavrov following recent military strikes carried out by the United States and Israel on targets in Iran, as tensions in the Middle East continue to rise.
Global air travel remained in turmoil on Monday after U.S. and Israeli strikes on Iran and retaliatory strikes in the Gulf region prompted widespread airspace closures across the Middle East, disrupting one of the world’s most important aviation corridors.
Follow the latest developments and global reaction after the U.S. and Israel launched “major combat operations” in Iran, prompting retaliation from Tehran.
Saudi Arabia’s state oil giant Saudi Aramco closed its Ras Tanura refinery on Monday following an Iranian drone strike, an industry source told Reuters as Tehran retaliated across the Gulf after a U.S.-Israeli attack on Iranian targets over the weekend.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
Ayatollah Alireza Arafi has moved into a pivotal constitutional role following the death of Supreme Leader Ayatollah Ali Khamenei, becoming the clerical member of Iran’s temporary leadership council under Article 111 of the Constitution of the Islamic Republic of Iran.
The Middle East crisis intensifies after the deadly attack on Iran's Supreme Leader Ali Khamenei's compound on Saturday that killed him, wife and other family members and senior figures. Iran has launched retaliatory strikes on U.S. targets in the region.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
Paramount Skydance emerged as the winner in a months-long battle to acquire Warner Bros Discovery after streaming giant Netflix on Thursday refused to raise its bid for the storied Hollywood studio.
Global debt surged to a record $348.3 trillion at the end of 2025, after nearly $29 trillion was added over the year, marking the fastest annual increase since the pandemic, according to the Institute of International Finance (IIF) report released on Wednesday.
Millions of Colombian roses have arrived in the United States just in time for Valentine’s Day, keeping the country on track as the world’s second-largest flower exporter. Between 15 January and 9 February, Colombia shipped roughly 65,000 tons of fresh-cut blooms.
Russia’s car market is continuing to receive tens of thousands of foreign-brand vehicles via China despite sanctions imposed after Moscow’s full-scale invasion of Ukraine in 2022, a journalistic investigation has found.
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