Source link : https://las-vegas.news/shares-slide-as-trumps-commerce-conflict-with-china-spooks-wall-road/
Shares slid Thursday as President Trump’s escalating commerce conflict with China and issues about its financial implications continued to rattle Wall Road.
All three main inventory indexes misplaced a good portion of their good points from a Wednesday rally, which got here within the wake of Trump’s determination to shift the main focus of his sweeping tariff plans.
The Dow Jones Industrial Common closed with a lack of greater than 1,000 factors Thursday, falling 2.5 p.c after rising practically 3,000 factors the day gone by. The S&P 500 index sunk 3.5 p.c decrease, and the Nasdaq composite fell 4 p.c after rising roughly 12 p.c Wednesday.
Trump’s Wednesday determination to delay and cut back import taxes on items from dozens of nations introduced rapid aid to the inventory market after days of steep declines.
The announcement additionally introduced some temporary stability to the bond market, which Trump stated had spooked him out of his earlier tariff plans.
However each shares and bonds reversed a lot of their progress Thursday as Trump pushed tariffs on Chinese language items even increased, elevating the stakes of his battle with Beijing and the potential value for People.
Trump stated Thursday he could be boosting the “reciprocal” tariff fee on Chinese language items to 125 p.c, bringing the general tax fee on some Chinese language merchandise to an exorbitant 145 p.c.
“Whereas Trump’s willingness to barter is an effective signal for a possible…
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Author : LasVegasNews
Publish date : 2025-04-10 23:50:00
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