New Delhi, April 7 -- Global markets slid into turmoil on Monday (April 7), with the S&P 500 briefly entering bear market territory - defined as a 20% drop from its most recent peak - amid escalating trade tensions sparked by President Donald Trump's renewed tariff push.

The S&P 500 index opened lower and was down 17.4% from its February 19 high, needing just a 3.1% drop to officially mark a bear market.

Despite the steep losses in equities, Trump struck a defiant tone. He declared that he would not reverse course on the sweeping tariffs, which he insists are key to correcting what he views as unfair trade practices.

"Other countries have been abusing the United States with their trade policies," Trump said, adding that the tariffs wou...