Global markets experienced a downturn on Tuesday following the implementation of new tariffs by U.S. President Donald Trump. In response to Washington's tariff increase of 20% on Chinese goods, China retaliated by imposing higher duties of up to 15% on U.S. farm exports. European shares were mostly lower, with Germany's DAX slipping 1.8%, Paris' CAC 40 declining 1.1%, and Britain's FTSE 100 losing 0.4%.
Asian markets also saw declines, with Tokyo's Nikkei 225 dropping 1.2%, Hong Kong's Hang Seng losing 0.4%, and South Korea's Kospi giving up 0.2%. The Shanghai Composite index edged slightly higher by 0.2%.
