Markets slide further amid fears of escalating trade war between China and US

European markets experienced a decline as China announced an increase in retaliatory tariffs on US goods to 125%, escalating fears of a trade war between the two largest economies. The move matched the US 125% tariff on Chinese imports, which includes a separate 20% fentanyl-related border tax, pushing total levies to at least 145%. Stock markets reacted negatively to the news, with concerns rising about the impact of the ongoing trade tensions on global economic stability.

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