Analysts are calling it Panic Monday or Black Monday.⁣ Global markets plunged and fears of recession rose following sweeping tariffs by U.S. President Donald Trump as Europe calibrated its response to the escalating trade war.⁣ European equities were deep in the red, but Asia fared worse, with Hong Kong's Hang Seng index crashing 13.2% – its biggest drop since the 1997 Asian financial crisis – and Tokyo's Nikkei 225 falling 7.8%. Germany’s share index (Dax) fell 10 percent, while London’s FTSE 100 index dropped 6%.⁣ A 10% percent ‘baseline’ tariff on imports from around the world took effect on Saturday but many countries will be hit with specific extra charges from Wednesday, with levies of 34% for Chinese goods and 20% for EU products.⁣ ⁣ #Mumbai⁣ #India⁣ #DAX⁣ #Germany⁣ #Hangzhou⁣ #China⁣ #Tokyo⁣ #Nikkei⁣ #Seoul⁣ #Dubai⁣ #HangSeng⁣ #HongKong⁣ #tariffs⁣ #trump⁣ ⁣ ⁣ 📷Francis Mascarenhas/Reuters⁣ 📷Arne Dedert/picture-alliance/dpa/AP⁣ 📷CFP⁣ 📷EPA-EFE/FRANCK ROBICHON⁣ 📷Yonhap/Reuters...