US stock markets joined the global market selloff on Monday, with S&P 500 plunging 4%. S&P 500 saw its poorest performance since the COVID-induced economic crisis in March 2020. Markets are experiencing dramatic fluctuations as investors evaluate the implications of President Donald Trump's international trade policies.

The S&P’s 9% loss since last Friday makes this stocks’ worst week since March 2020 and the fifth-worst week of the last 20 years, trailing only losses sustained in October 2008 and early 2020.

“If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” Trump wrote on Truth Social. “Additionally, all talks with China concerning their requested meetings with us will be terminated!”

Fears of an escalatory tariff war between China and the US are laid out on the front of the Financial Times after Trump threatened additional 50% tariffs on China if Beijing did not withdraw its retaliatory levies.

Canada's main stock index fell on Monday to a seven-month low, including declines for energy and financial shares, as a widening trade war threatened to derail the global economy and despite the prospect of negotiations that could lead to deals.

President Donald Trump gave Beijing one day to withdraw its retaliation to his latest tariff salvo, or else he will add another 50% duty on Chinese imports. Last week, Trump imposed a fresh 34% levy on top of his earlier 20% tariff.

Markets dropped today as President Trump's tariffs continue to cause economic uncertainty around the world. Congress is now trying to take the power of the purse back. Republican strategist Lance Trover and MSNBC political contributor Geoff Bennett join José Díaz-Balart to share their political analysis.

Traders are bracing for another bumpy week after a day marked by waves of volatility thanks to unpredictable news on President Donald Trump’s tariff plans. US stocks swung violently, wiping out a 4% plunge to rise more than 3% before turning negative again as investors reacted to a swirl of headlines related to trade policies.

U.S. President Donald Trump threatened to further increase tariffs on China on Monday, raising the possibility of further escalation in a trade war that has already wiped trillions of dollars from global markets.