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Good morning from the newsroom of the Financial Times.

Today is Tuesday, May 14th, and this is your FT news briefing.

The escalating trade war with China hands US stocks their biggest one day drop in months.

Uber shares lost more than a tenth of their value in the ride-hailing apps

second day of trading, and a California court orders Bayer to pay more than $2 billion in damages

in another case related to its weed killer, Roundup.

Then US generic drugmakers are facing a lawsuit from 44 U.S. states that alleges the companies

conspired to keep drug prices higher than they needed to be.

I talk with the F.T.'s pharma and biotech reporter, Hannah Cushler, about what it means for the industry.

I'm Mark Filipino, and here's the news you need to start your day.

United States equities tumbled more than 2% on Monday as the ongoing trade war with China

escalated.

Yesterday Beijing said it would raise tariffs on 60 billion dollars of American goods.

It came in response to US President Donald Trump's decision last Friday

to increase tariffs on 200200 billion in Chinese imports to 25%.

Global investors fled to safer assets, including government debt.

The S&P 500 fell 2.4%. That's the index's worst day since January.

The Futsi All World Index slid nearly 2% to its lowest level since March.

Tech stocks also sank.

The Tech Heavy NASDAQ was down 3.4%.

...