'Dispute may trigger severe market turmoil': Shares tumble as China promises retaliation on Trump's $200bn tariffs threats

White House to identify Chinese goods on which to impose 10% import tariffs

Equity markets across Europe and Asia are in negative territory after the Chinese government vowed retaliation in response to US President Donald Trump's $200bn trade tariffs threat on Chinese goods on Monday, as two of the world's largest economies take a step closer to a full-blown trade war.