Markets plunge worldwide for a second day straight following China’s tariff retaliation [Video]

Wall Street’s worst crisis since COVID slammed into a higher, scarier gear Friday.

The S&P 500 lost six per cent after China matched U.S. President Donald Trump’s big raise in tariffs announced earlier this week. The move increased the stakes in a trade war that could end with a recession that hurts everyone. Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.

The drop closed the worst week for the S&P 500 since March 2020, when the pandemic crashed the economy. The Dow Jones Industrial Average plunged 2,231 points, or 5.5 per cent …