US$1 trillion wiped out of global markets led by tech carnage after China vows tariffs on 5,000 US products in trade war escalation

• US tech bellwethers were among the hardest-hit stocks, with Apple and Tesla both dropping more than 5 per cent
• Market sell-off resumed after China said it would impose 25 per cent duties on a portion of US$60 billion worth of US goods starting on June 1