U.S.-China trade tensions escalate with higher tariffs, sparking fears of slower global growthStock markets plunge as S&P 500 drops 4.35%, Nasdaq down 4.24%, Russell 2000 falls 4.14%U.S. Treasury Bond Futures decline 0.74%, signaling investor uncertainty over tariffs and rate cutsCryptocurrency market reacts negatively to new developments in ongoing trade dispute, causing market downturn