European Markets Plunge as China Imposes 84% Tariffs on U.S. Goods

European markets are in freefall following China’s announcement of an 84% tariff on U.S. imports. The UK’s FTSE 100 has dropped by 3.3%, while Germany’s DAX and France’s CAC 40 have both experienced a decline of 4%, reflecting widespread panic across the continent.

The sell-off was already underway due to escalating trade war tensions, but Beijing’s aggressive retaliation has significantly intensified the downward trend.

Attention now shifts to Wall Street, where U.S. markets are set to open amid growing concerns of a potential global economic backlash.