15:38โขMarkets Crash 1,600 Points On Chinese Tariff Retaliation
โจThe newspapers extensively report on the dramatic market selloff as China retaliates against Trump's tariffs with 34% levies on all US imports. The Dow Jones has plunged over 1,000 points, with some sources reporting drops of 1,100-1,600 points (ABC, AP, Boston Globe, CBS, CNN, LA Times, NYTimes, Newsweek, Washington Post, USA Today). This represents the biggest market drop since 2020, despite a robust jobs report showing stronger-than-expected employment growth. President Trump has acknowledged it could take up to two years for manufacturing to return to the US (ABC), while media outlets attempt to explain the implications of the escalating trade war (Vox).