<ul><li>The stock market experienced significant turmoil on Friday as China retaliated against tariffs announced by US President Donald Trump.</li><li>The S&P 500, Dow Jones, and Nasdaq all saw substantial drops, with the S&P 500 marking its worst week since the Covid-19 pandemic crash in 2020.</li><li>Global markets also declined, with the UK's FTSE 100 experiencing its steepest fall in five years.</li><li>The escalation of tariffs has heightened concerns about a potential global trade contraction and economic recession.</li></ul>

Market turmoil as China retaliates on tariffs

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