The Trump administration showed no signs of relenting on the tariffs that have caused trillions of dollars in losses.

Asia's biggest economy, China, has also hit back with its own tariffs, deepening the global stock market turmoil on Friday.

Global markets are plunging following last week's two-day meltdown on Wall Street, and President Donald Trump says he won't back down on his sweeping new tariffs, which have roiled global trade.