US stocks slump as China retaliates against Trump tariffs

It's called “bear market territory” - when shares close at least 20% down on their most recent high and that's where America is, two days after Donald Trump announced his sweeping tariffs.

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As stocks tumbled further into the red - so did the price of oil.

China was the first to respond, slapping another retaliatory tariff on US goods from next week.

While other countries are still trying to negotiate.

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