China hits back hard at ‘Trump tariffs’ as global recession fears grow
The two largest economies of the world have clashed with each other. First, the US made the first consecutive attack of 34 percent tariff on China. Now China has retaliated by imposing a tariff of 34 percent in America. Due to this attack, there has been chaos in the American stock markets.
The Dow Jones was seen trading with a decline of about 3 percent. At the same time, the Nasdaq Composite is also seeing a decline of 3.25 percent.
Trump's tariff and the biggest one-day decline was seen after Kovid
The S&P 500 was also seen trading with a decline of about 3 percent. A day earlier, the US stock market had reacted to the possibilities of recession and inflation after Trump's tariff and the biggest one-day decline was seen after Kovid. Due to which more than 2 trillion was reduced from the market cap of S&P.
Let us also tell you what kind of figures are being seen in the American stock market.
Chaos in the American stock market
Dow Jones: A big decline is being seen in the American stock market index Dow Jones. At 9:55 am US time, the Dow Jones was trading at 39,432.29 points with a decline of 2.75 percent or 1,113.64 points. While during the trading session it also reached a lower level with 39,287.17 points.
A day before, Dow Jones witnessed a decline of more than 4 percent.
Nasdaq Composite: The American index Nasdaq Composite was also seen trading with a big decline. If we look at the data, then according to the US time, at 9:55 am, the Nasdaq Composite was seen trading at 16,012.81 points with a decline of 537.79 points i.e. 3.25 percent. However, the index also reached a lower level with 15,918.25 points.
Also Read: India Reax on Trump Tariff: Why India does not consider 27% tariff a setback
S&P 500: One of the major indexes of the American stock market, S&P 500, is also witnessing a big decline. If we look at the data, then according to the US time, at 9:55 am, the S&P 500 is trading at 5,244.91 points with a decline of 151.61 points i.e. 2.81 percent. However, the index also went to the day's low level with 5,208.55 points.
How many shares fell
The shares of the world's largest EV company Tesla are seeing a decline of about 7 percent.
The shares of the world's largest company Apple were seeing a decline of more than 3 percent.
The shares of Meta, the parent company of the world's largest social media platform Facebook, were trading with a decline of about 4 percent.
The shares of the world's largest e-commerce company Amazon were seeing a decline of 2.33 percent.
The shares of the world's largest chip maker company Nvidia were seeing a decline of more than 5 percent.
The shares of the world's largest tech company Oracle were also seeing a decline of more than 5 percent.
Adidas, one of the world's largest shoe and apparel companies, was witnessing a decline of more than 4 percent in its stock.
Nike's stock was also witnessing a decline of more than 3.50 percent, though not as much as Thursday.
Also Read: Nifty IT Dips 3% as Trump’s 26% Tariff Shakes Indian Exports
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