US stock futures plunge after China heats up trade war with Trump tariffs retaliation
1. S&P 500 futures fell 3.4% amid rising trade tensions with China. 2. China plans a 34% tariff on all US imports affecting market outlook. 3. Trump's tariffs may spur inflation and recession fears among investors. 4. Major tech stocks, including Amazon and Tesla, experienced significant losses. 5. Global markets continue to decline amidst tariff uncertainties and volatility.