Global markets slide broadly as US ups ante in trade conflict
The United States had just imposed tariffs on $34 billion worth of Chinese goods on Friday, drawing immediate retaliatory duties from Beijing on U.S. imports in the first shots of a heated trade war. U.S. President Donald Trump had warned then that his country may ultimately impose tariffs on more than $500 billion worth of Chinese imports.
S&P 500 and Dow futures were down 0.8 percent and 0.95 percent, respectively. Image source: Reuters