The S&P’s 9% loss since last Friday makes this stocks’ worst week since March 2020 and the fifth-worst week of the last 20 years, trailing only losses sustained in October 2008 and early 2020.

President Donald Trump’s trade war with the world has seen trillions of dollars in wealth tied to the global markets evaporate within days. While all investors are feeling the pressure, experts say the wealthiest Americans are seeing perhaps the biggest impact.

China said on Saturday "the market has spoken" in rejecting U.S. President Donald Trump's tariffs, and called on Washington for "equal-footed consultation" after global markets' dramatic reaction to the trade levies,