Trump's recent tariffs led to a steep market decline, with the S&P 500 plunging 4.88% and a total drop of 10.5% over two days. This development coincided with aggressive tariff responses from China and concerns over a potential global trade war. The Nasdaq Composite entered bear market territory, while Bitcoin also saw prices plummet before futures markets opened. Despite the turmoil, interest in negotiations was expressed by over 50 countries, including Taiwan, which could mitigate impacts if progress is made against punitive tariffs.
"The sell-off was triggered by China issuing 34% tariffs back on the United States, indicating a shift towards trade war instead of negotiation."
"This significant market drop of 10.5% over two days signals rising investor concern about the global economy and potential trade conflicts."
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