Economic Turmoil and Market Decline

The financial markets are experiencing significant turmoil, with a drastic decline leading to a loss of over $5 trillion in just two days. This downturn has been largely attributed to the self-inflicted consequences of President Trump's trade war, which has resulted in new tariffs imposed on 180 countries. In retaliation, China has introduced a 34% tariff on American products, exacerbating the market's challenges. Analysts warn that the tariffs are pushing up prices, reducing productivity, and increasing the likelihood of an economic recession, with J.P. Morgan predicting rising unemployment as a result.