U.S. Stocks Fall Further After China Retaliates Against Trump Tariffs
1. China announced a 34% tariff on U.S. goods, escalating trade tensions. 2. S&P 500 fell 2.9% amidst concerns over a prolonged trade war. 3. Despite strong job growth, market reaction remains negative due to tariffs. 4. Investors seek safety in bonds and gold as recession fears rise. 5. Previous tariff fears led to steep market declines since 2020.