Market meltdown as trade war hots up
US stocks suffered their worst day of the year after China upped the ante in its rapidly escalating trade war with the US.
The global stock market sell-off saw investors rushing for so-called "safehaven" assets and analysts warning that a bear market "beckons".
The S&P 500, New York's benchmark index, plunged 2.98pc after Beijing refused to bow to pressure from Donald Trump and ignited fears the trade war is spilling over into currency markets.
China halted imports of American ...