Dow and S&P tumble amid fears of a full-blown trade war as Beijing targets food imports

The opening salvos of a tariff spat between the US and China that some observers fear could escalate into a full-blown trade war sent jitters through Wall Street on Monday.

Stock markets fell after Beijing hit back against Donald Trump’s imposition of tariffs on Chinese steel and aluminium with a swath of retaliatory duties on 128 imported American products, including pork and apples.

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