Donald Trump has lashed out at China after Beijing announced it would retaliate against his “liberation day” tariffs.
The US president said China had “panicked” and “played it wrong” by announcing 34pc levies against all American goods from next Thursday.
His comments came as Wall Street stocks plunged sharply again, with the benchmark S&P 500 on track for its worst week since the first Covid lockdown in March 2020.
The Nasdaq Composite was down more than 20pc from its record highs set in December, entering what investors call a “bear market”.
Leah Fahy of Capital Economics said China had made “an aggressive, escalatory response that makes a near-term deal to end the trade war between the two superpowers highly unlikely”.
The FTSE 100 in London fell 5pc in its biggest decline since the onset of the pandemic five years ago.
The US president said China had “panicked” and “played it wrong” by announcing 34pc levies against all American goods from next Thursday.
His comments came as Wall Street stocks plunged sharply again, with the benchmark S&P 500 on track for its worst week since the first Covid lockdown in March 2020.
The Nasdaq Composite was down more than 20pc from its record highs set in December, entering what investors call a “bear market”.
Leah Fahy of Capital Economics said China had made “an aggressive, escalatory response that makes a near-term deal to end the trade war between the two superpowers highly unlikely”.
The FTSE 100 in London fell 5pc in its biggest decline since the onset of the pandemic five years ago.
15 hours ago
