Global Markets Plunge as Beijing Bans U.S. Shipping; Treasury’s Bessent Warns China ‘Will Be Hurt the Most’
NEW YORK — Global stock markets tumbled on Monday following Beijing’s new trade restrictions targeting U.S. shipping firms, sparking fears of an intensifying economic standoff between the world’s two largest economies. The selloff came after U.S. Treasury Secretary Scott Bessent issued a stark warning to Beijing, saying China “will be hurt the most” if it…