European and U.S. stock markets have experienced significant declines as the U.S.-China trade war escalates. Retaliatory tariffs imposed by both nations have triggered a global market sell-off. European stocks closed sharply lower, reflecting the growing tensions in international trade. Following this trend, U.S. markets also slumped, indicating a widespread retreat in global stock markets amid fears of further deterioration in trade relations. The situation has prompted concerns among investors, leading to a cautious approach in market activities as the trade conflict deepens.