In a decisive response to US tariffs imposed by Trump, China has announced a staggering 34% tax on all imports of US goods, leading to a significant market downturn as the stock market faces its worst crisis since the COVID-19 pandemic. Following the announcement, the S&P 500 plummeted 6%, and the Dow Jones Industrial Average dropped over 2,200 points, erasing twelve months of gains in what has been described as a brutal selloff. As tensions escalate between the two nations, Wall Street continues to suffer, with analysts warning that these retaliatory measures could deepen the economic turmoil. Meanwhile, both countries are grappling with the potential fallout from the escalating trade war as concerns rise over its global impact.