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This is the world in brief from The Economist.

Our top stories, markets continued to plunge after China retaliated against Donald Trump's tariffs,

with an additional levy of 34% on all American imports.

The Dow fell by 2,200 points, or 5.5% on Friday.

The SMP 500 slid by 6%, the NASDAQ fell by 5.8%, entering a bare market.

Earlier, Jerome Powell, chair of the Federal Reserve, warned that

Mr. Trump's tariffs would spur inflation and slow economic growth. Mr. Trump extended by 75 days

a deadline for the Chinese owners of TikTok to sell its American operations.

The video sharing app had faced shutdown as soon as Saturday.

Mr. Trump said he hoped to work in good faith with Chinese leaders,

quote, who I understand are not very happy about our reciprocal tariffs.

Russia said there were no plans for Vladimir Putin to speak to Mr. Trump again, quote,

for now.

The Kremlin's comments came after Kirill Mietriev, Mr. Putin's economic envoy,

met American officials in Washington.

NBC News reported that Mr. Trump's team told the president not to hold discussions with his

...