Trump's Tariff Surprise Sends Markets Tumbling

The Dow Jones Industrial Average plummeted by more than 600 points on Monday, as President Trump confirmed his administration's aggressive tariff plans, dashing hopes for a last-minute reprieve and sending stocks into a tailspin. The news sent shockwaves through global markets, with investors grappling with the potential economic fallout of a full-blown trade war.

The U.S. President's announcement came as a surprise to many, as it dashed hopes for a resolution to the ongoing trade dispute between the U.S. and China. The U.S. Trade Representative's office announced that it would impose tariffs on $200 billion worth of Chinese goods, with the tariffs set to take effect on September 24. The move comes after months of negotiations between the two countries, which have failed to yield a breakthrough.

The news sent stocks reeling, with the Dow Jones Industrial Average falling by more than 600 points, or 2.3%, to close at 25,070.06. The S&P 500 Index also fell by 2.1%, while the Nasdaq Composite Index dropped by 1.8%. The sell-off was broad-based, with all 11 sectors of the S&P 500 Index falling into negative territory.

The news also sent shockwaves through global markets, with stocks in Europe and Asia also falling sharply. The Stoxx Europe 600 Index fell by 1.4%, while the Shanghai Composite Index dropped by 1.6%. The news also sent the yield on the 10-year U.S. Treasury note falling to its lowest level since 2017, as investors sought safe-haven assets.

The news comes as the U.S. and China have been engaged in a bitter trade dispute for more than a year. The two countries have imposed tariffs on hundreds of billions of dollars worth of goods, with the dispute showing no signs of abating. The dispute has taken a toll on both countries' economies, with growth slowing in both countries.

The news also comes as the U.S. and China are set to hold high-level trade talks in Washington later this week. The talks are seen as a crucial opportunity for the two countries to resolve their differences and avoid a full-blown trade war. However, with the U.S. imposing new tariffs, the prospects for a breakthrough appear to