Dhaka, April 5 -- Stock market turmoil deepened on Friday, as China hit back at tariffs announced by US President Donald Trump, raising the likelihood of an extended trade war and damage to the global economy.

All three major stock indexes in the US plunged more than 5 per cent, with the S&P 500 dropping almost 6 per cent, capping the worst week for the US stock market since 2020, according to a BBC report.

In the UK, the FTSE 100 plunged almost 5 per cent - its steepest fall in five years, while Asian markets also dropped and exchanges in Germany and France faced similar declines.

Trump, who has vowed to remake the global trade order, dismissed concerns about the market shock, noting that the US labour market is strong.

"Hang tough,"...