The News
A global markets selloff deepened Friday, with plummeting US stocks futures indicating a dire day for Wall Street after China retaliated against US President Donald Trump’s tariff blitz.
In the US, S&P 500 futures fell 3%, while Europe’s stock benchmark erased its gains for the year and Asian markets were sharply down on mounting fears of a global downturn. It comes after the S&P 500 suffered its worst one-day slump since 2020 on Thursday.
Trump acknowledged the market sell-off but doubled down on his tariff plans at a White House press conference Thursday, suggesting traders’ concerns about growth were par for the course.
“The markets are going to boom. The stock is going to boom. The country is going to boom. And the rest of the world wants to see if there is any way they can make a deal,” Trump said.