The "Black Monday" global market crash dominated coverage, stemming directly from Trump's tariffs and China's 34% retaliatory measures from last week. Asian markets plummeted first, with Hong Kong experiencing its worst day in 28 years. The Amsterdam AEX followed with its largest drop since the pandemic, falling below 800 points.
By midday, investor websites became inaccessible due to panic, with financial institutions urging calm. Trump threatened additional 50% tariffs against China while claiming Americans must "suffer pain to stop US abuse." Minister Reinette Klever called for calm while reportedly advocating a strong European response.
The EU announced it would decide on countermeasures by Wednesday, signaling recognition that for Trump, tariffs are an end goal rather than leverage. Meanwhile, TenneT reported a surprising electricity surplus on the previously overloaded power grid, and reports emerged that lawyer Inez Weski had been held at an illegal detention facility.