President Trump’s tariffs have raised fears of a recession just as projections for global oil supply have jumped.
Analysts have indicated that the escalating conflict between the U.S. and foreign nations over tariffs is further propelling the market to a global trade war.
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European stock markets are heading for a slightly lower open Friday, with investors still reeling from the scale of U.S. tariffs announced late Wednesday.
Oil price could fall as low as $50 as Saudis launch price war. Gasoline prices set to be a bright spot in Trump's trade war.