Global stocks experienced another decline as China retaliated against U.S. tariffs with its own measures. European markets saw significant drops, with the UK’s FTSE 100 and Germany’s Dax both falling approximately 4%. Several companies faced double-digit declines in their share prices. This follows substantial losses from the previous day, driven by uncertainty surrounding U.S. tariffs. Traders are worried that these tariffs could lead to higher prices and negatively impact economic growth both domestically and internationally. President Donald Trump expressed optimism, stating that the markets would eventually boom. However, markets continued to fall sharply after China imposed a 34% tariff on all U.S. goods starting April 10. Specific sectors, such as banking, mining, and aerospace, were particularly affected in London. Analysts noted the complexity of the situation, with many sectors likely to be impacted by the tariffs. Investors have been turning to safe-haven assets like gold and government bonds. China’s strong response to the tariffs suggests a prolonged trade conflict, making a quick resolution unlikely. Meanwhile, the dollar index stabilized after a sharp drop, and oil prices fell due to concerns over economic growth. — new from BBC
