Wall Street Traders Jolted as US, China Trade War Flares

Market Overview - The market is experiencing significant volatility, with the Dow down 400 points, S&P down 1.3%, and NASDAQ down 1.8% [1] - Oil prices have also seen a decline, with American oil prices falling below $60 per barrel, currently at $58, and global oil down $7 from a previous level of $70 [1] Geopolitical Factors - There is a notable geopolitical linkage affecting economics and finance, particularly with tensions involving Japan and China [1] - Japan's ruling coalition has collapsed, which has jolted markets and indicates interdependence among global economies [1] Business Sentiment - A report from KPMG highlights a prevailing tone of uncertainty in business across America, reflecting the current political climate and global market conditions [1] - The uncertainty is compounded by ongoing tariff discussions and the unpredictable nature of China's economic policies [1]