China investors are bracing for a grim Monday as the nation’s markets return from an extended weekend and factor in its retaliation to US tariffs.

A gauge of Chinese stocks listed in the US plungedBloomberg Terminal 8.9% on Friday, the most since October 2022, amid global market turmoil after Beijing announced 34% tariffs on all imports from the US. That came during a holiday for Chinese and Hong Kong equities, which will restart trading on Monday.