Markets are facing their worst crisis since the COVID crash after China matched President Donald Trump’s big raise in tariffs following the president's "liberation day" announcement.

The S&P 500 is down more than 13% since Trump won the election in November, with most losses concentrated since he announced his hawkish tariffs Wednesday.

Trump's tariff increase could cost U.S. households $700 billion, the largest de facto tax hike since LBJ needed to finance the war in Vietnam.

If you're going to buy stocks during periods of market volatility, don't plan on a quick cash-out. A better bet is to aim to hold those stocks for many years, since there's the risk that their values could decline in the near term while the market remains unsettled.

Stocks tumbled a day after President Donald Trump’s tariff announcement. China and the E.U. are preparing countermeasures to the tariffs. Trump fired numerous staff at the National Security Council. Trump exaggerated arrests immigration officials have made.

China, in the wake of President Trump’s latest tariffs on foreign trading partners, announced Friday it will hit the U.S. with a 34 percent reciprocal tax on imports starting next week. “The US practice is inconsistent with international trade rules,