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Asian and European equities collapsed on a black Monday for markets after China hammered the United States with its hefty tariffs, ramping up a trade war many fear could spark a recession.
Trading floors were overcome by a wave of selling as investors fled to the hills, with Hong Kong's loss of 13 percent its worst in nearly three decades, while Frankfurt dived 10 percent, Taipei 9.7 percent and Tokyo almost eight percent.
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