The market crisis triggered by Trump's tariffs intensified into a full "Black Monday," with Asian markets plummeting over 12% in early trading before European markets opened with catastrophic losses. Spain's Ibex 35 fell nearly 6%, continuing the bloodbath that began last Thursday.
By mid-morning, Catalan President Illa announced €1.5 billion in aid and credit to counter Trump's tariffs, with Barcelona separately committing €900 million to strengthen its economy. The national government prepared €5 billion in loan guarantees for affected companies.
Von der Leyen offered Trump zero tariffs on industrial products, proposing a "zero for zero" approach, while Trump escalated tensions by threatening China with additional 50-104% tariffs. Wall Street opened with steep losses but managed to stabilize by day's end, contrasting with European markets which closed down more than 4%, having lost €1.3 trillion in just three trading sessions.