Global markets crashed spectacularly as Trump's tariff standoff intensified. Asian markets plummeted first, with Japan's Nikkei dropping nearly 8%, followed by European markets and then US stocks, with the S&P 500 briefly entering bear market territory.
Trump remained defiant throughout the day, calling tariffs "medicine" and labeling critics "PANICANS." By afternoon, he escalated tensions with an ultimatum threatening China with additional 50% tariffs if Beijing doesn't withdraw its 34% retaliatory measures by Tuesday.
The EU offered a "zero-for-zero" tariff resolution on industrial goods, showing willingness to negotiate. Netanyahu met with Trump and discussed eliminating Israeli tariffs on US goods.
In immigration news, the Supreme Court handed Trump a victory in a 5-4 decision allowing deportations of Venezuelan migrants to continue under the Alien Enemies Act, temporarily halting a lower court's order to return a deported man from El Salvador.