Oil plunges to lowest since pandemic; natural gas, soy slump as China retaliates

Oil Plunges to Lowest Since Pandemic; Natural Gas, Soy Slump as China Retaliates

Oil plunges to lowest since pandemic; natural gas, soy slump as China retaliates

Oil prices plunged on Friday to the lowest level since 2021 and commodities including natural gas and soybeans also dived as China retaliated against U.S. President Donald Trump's aggressive tariffs.

Trump's Tariffs Trigger Biggest Oil Price Drop Since 2021

Oil prices plunged this week as a one-two punch of sweeping U.S. import tariffs and an unexpected OPEC+ supply hike erased $10 per barrel from global benchmarks. Friday, April 04, 2025 The combined effect of Donald Trump’s import tariffs, OPEC+’s inopportune decision to speed up the unwinding of production cuts and China’s retaliatory actions have wiped off $10 per barrel from global oil prices, with ICE Brent falling below $65 per barrel for th…

Markets tumble after China retaliates against Trump tariffs

The S&P 500 was down 2.8% in early trading, and the Dow Jones Industrial Average was down 1,049 points.

Oil tumbles nearly 8% as China retaliates with tariffs on US

Nations around the world have readied retaliation after Trump raised tariff barriers to their highest in more than a century, leading to a plunge in world financial markets.

Dow on correction path as China strikes back against US tariffs

The Dow fell 10% from its record closing high in December, putting it on track to confirm a correction on Friday, after China retaliated with fresh tariffs a day after the Trump administration announced sweeping levies on trade partners.