Equities savaged as China retaliation to Trump tariffs fans trade war

Equities savaged as China retaliation to Trump tariffs fans trade war
Bears are on the prowl across the world's bourses. (Image: Getty)
AFP
Asian markets collapsed on Monday after China hammered the United States with its own hefty tariffs, ramping up a trade war that many fear could spark a recession.Trading floors were overcome by a wave of selling as investors fled to the hills on the worst day for equities since the pandemic, with Hong Kong shedding more than 10%, Tokyo diving 8%, and Taipei more than 9%.Futures for Wall Street's markets were also taking another hammering, while concerns about the impact on demand also saw commodities slump.Donald Trump sparked a market mel...

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