From Yahoo Finance: 2025-04-09 11:32:00

China and the EU respond to Trump’s tariffs with new trade barriers, sparking worries of a global trade war and recession. Trump downplays market volatility, calling tariffs “permanent” and pushing for negotiations with other leaders. Tariffs are taxes on imports that raise consumer prices and impact economic output. Stock markets globally sell off due to fears of inflation and recession.

US stocks experience worst week since 2020, with S&P 500 and Nasdaq in bear market territory. JP Morgan Chase CEO warns that tariffs may increase inflation and raise possibility of recession. Despite unsettling financial landscape, US economy shows resiliency. Economy fueled by government deficit spending and past stimulus. Trump criticizes federal deficit.

Read more: What are tariffs and why are they affecting the stock market? Here’s what to know