Global stock markets are experiencing significant declines as investors react to escalating fears of a recession in the U.S. and ongoing trade tensions with China. The Dow Jones Industrial Average has seen a notable tumble, dropping 400 points, marking its lowest level since September. European shares are primarily down while Asian stocks are mixed, reflecting worries over tariff uncertainties. Additionally, the yen has gained strength against the dollar as concerns mount over deflationary pressures in China. With a chaotic week dominated by Trump’s trade actions and looming doubts regarding the economy, investors await the upcoming U.S. jobs report, adding to the atmosphere of uncertainty.