London — Global stocks slid on Monday and US oil prices slumped after US President Donald Trump announced tariffs on Chinese goods and Beijing responded with similar measures in an escalating trade dispute. The fear the spat between the world’s two largest economies could intensify added to pressure on oil prices, which extended Friday’s big fall into the start of week, while the dollar retreated from near three-week highs against the safe-haven yen. Trump announced tariffs on Friday on $50bn of Chinese imports, including cars, starting on July 6. China said it would retaliate immediately by slapping duties on American export products, including crude oil, and suspend all previous trade agreements with Trump’s administration. The exchange of blows between Beijing and Washington has heightened the fear of a broader and more protracted dispute, sending Asian shares to a two-and-a-half-week low.
European shares opened lower as investor angst about the outlook for economic growth ...
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