The Dow loses 500 points in a broad U.S. sell-off, as Federal Reserve Chairman Jerome Powell says more fiscal support is needed, while other central bankers say the US economy remains in a 'deep hole'. Asian equities join the declines, with the Hang Seng and Shenzhen Composite taking the heaviest losses, while European markets look set to open in the red. In corporate news, Tesla takes the trade war into its own hands, suing the U.S. government and Trade Representative Robert Lighthizer over the tariffs on Tesla imports from China.

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