Part 4/10:
On March 24, the European Union entered the fray, imposing $28 billion in retaliatory tariffs of its own, leading Trump to threaten 200% tariffs on European wine and champagne. This pattern continued to escalate until, by April 2, tariffs were imposed globally, with China bearing the brunt at 125%.
Market Dynamics and Losses
The ensuing trade conflict yielded dire consequences; by April 9, the American stock markets had seen a decline affecting all major indices. Valuations diminished dramatically, and the fear of a recession gripped investors. As the S&P 500 and other indices spiraled downwards, economic uncertainty replaced optimism.