Economics

KEY POINTS

• China’s Foreign Ministry on Saturday said “the market has spoken” following the U.S. imposition of sweeping new tariffs.
• U.S. stock markets fell sharply for a second consecutive day on Friday, with all three major indexes dropping by more than 5% as part of a global rout.
• Sharing a picture of Friday’s U.S. stock market downturn, Chinese Foreign Ministry spokesperson Guo Jiakun said, “the trade and tariff war started by the U.S. against the world is unprovoked and unjustified.”