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(Bloomberg) -- For stock traders in Hong Kong, Monday’s mayhem was one for the history books.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideThe Irish Hot Press Is the Low-Tech Laundry Trick the World NeedsWhat Would ‘Transportation Abundance’ Look Like?As the global market meltdown worsened on Monday, the tumult in Hong Kong stood out. The city’s

The S&P 500 could slump to 4,700, a further 7%-8% decline from Friday's close, if President Donald Trump sticks with his tariff plans or the Federal Reserve doesn't ease interest rates, Morgan Stanley analysts wrote.

"The demand destruction for Tesla and brand damage is real," wrote Wedbush Securities analyst Dan Ives.

US stock futures were set to open sharply lower for the third straight day after massive routs that plunged stocks close to a bear market. But there was a silver lining – maybe.

As a rout in global equity markets deepened on Monday amid tariff turmoil, the signs of stress across financial markets have started to flash brightly. "It's quite clear that the market is in a panic," said Van Luu, global head of FX and fixed income strategy, Russell Investments. The asset manager's gauge of investor risk aversion, which incorporates pricing trends and sentiment indicators, was approaching levels last seen in September-October 2022, when global central banks started an unprecedented run of interest rate hikes.

President Donald Trump threatened additional tariffs on China on Monday, raising fresh concerns that his drive to rebalance the global economy could lead to a trade war. Trump's threat, which he delivered on social media, came after China said it would retaliate against U.S. tariffs announced last week. “If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” he wrote on Truth Social.

Study results in a rare form of obesity could help the company expand use of Imcivree, which is approved for two genetically driven forms of excess weight.