Global markets nosedive and China accuses US of bullying with tariffs

U.S. stocks are falling after President Donald Trump doubled down on his tariffs, despite seeing how much markets would love to see him do the opposite. The S&P 500 dropped 1.4% Monday. The Dow Jones Industrial Average sank 744 points, and the Nasdaq composite fell 1.1%. The Dow earlier fell as many as 1,700 points following even worse losses worldwide on worries that Trump’s tariffs could torpedo the global economy. It then surged to a gain after a rumor circulated that Trump may pause his tariffs. But the White House quickly called that fake news, and Trump then threatened to raise tariffs further on China.