Trump tariffs hit U.S. stocks hard as Nasdaq tumbles more than 1,000 points
U.S. stocks extended their losses in early trading on Thursday, with the Dow falling more than 1,500 points and the Nasdaq tumbling more than 1,000 points. US President Donald Trump announced additional ‘reciprocal tariffs’ of between 10 per cent and 49 per cent on almost all countries, a move that could trigger a global trade war and hit the already weak US economy. US initial jobless claims fell unexpectedly last week. Trump tariffs and OPEC+'s plan to increase production sent oil prices reeling. The Dow fell 1,543.14 points, or 3.65 per cent, to 40,682.18, the Nasdaq dropped 1,004.16 points, or 5.71 per cent, to 16,596.89, and the S&P 500 fell 246.47 points, or 4.35 per cent, to 5,424.50.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Tether considers investing $1.2 billion in German robotics company Neura Robotics
Founders Fund reduces its Bitmine holdings by half, currently holding approximately 2.547 million shares.