Energy Markets
Oil prices drop as China retaliates against Trump tariffs
Oil prices and global stock markets fell again on Friday, as China retaliated against U.S. president Donald Trump's new tariffs. Worries about a long-term trade war increased. The Nasdaq composite was heading toward a bear-market, and the pan-European STOXX 600 confirmed that it was in correction mode as the trade conflict fanned concerns about a global recession. S&P 500 Companies have lost more than $4 trillion since Trump announced his tariffs on late Wednesday. This is a record-breaking two-day drop for the benchmark. It surpasses a two day loss of $3.3 trillion that occurred in March 2020 when the pandemic...