Wall Street Turmoil Deepens As Trump Threatens Massive China Tariffs, Bitcoin Wobbles At $78K: What's Driving Markets Monday?

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Wall Street Turmoil Deepens As Trump Threatens Massive China Tariffs, Bitcoin Wobbles At $78K: What's Driving Markets Monday? - Benzinga

Quick Summary:

On Truth Social, Trump stated that China had imposed retaliatory tariffs of 34%, on top of what he described as already record-setting tariffs, despite prior warnings that such measures would be met with significantly higher U.S.tariffs.

He added that if China did not reverse the 34% hike by April 8, the United States would respond with additional tariffs of 50%, effective the following day.

Sentiment further deteriorated after Donald Trump adopted a more aggressive tone toward China.