New Delhi, April 4 -- Wall Street's worst crisis since COVID slammed into a higher gear Friday after China announced that it is set to impose 34 per cent additional tariffs on all imports from the United States in retaliation to US President Donald Trump's reciprocal tariff announcement.

Investor fears rise for a potential escalation of a trade war between the United States and other nations.

The S&P 500 lost 6% after China matched 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 US job market, which is usually the economic highlight of each month, was enough to stop th...