7 minutes agoU.S. Stock Exchange makes immediate decline after Trump tariffs
Periskopi(a year ago)
(a year ago)The American Stock Exchange on Wall Street has marked an instant decline as it opened this Thursday, April 3rd. The major decline is due to the tariffs President Donald Trump announced on countries with which the US has business relations. In the first moments of trading, Doua Jones fell by 2.8%, S&P 500 [...]
The major decline is due to the tariffs President Donald Trump announced on countries with which the US has business relations.
In the first moments of trade, Doe Jones has dropped by 2.8%, S&P 500 has lost 3.3%, while Nasdaq, dominated by shares in technology companies, has suffered a decline of 4.4%.
Renowned companies have suffered significant losses in their share value. Nike (slowly lost 11% of the stock value, Gap (18%), and Amazon (7%). Experts judge that stock values can be restored during the day, so these declines may not be permanent, says the report. Periscope.
Shares in the technological sector have suffered serious losses, where Apple, which produces most of its products in China, has dropped by 9%. Sports clothing companies, which receive most of their products from Asia, have also seen significant declines. Lululemon's down 10%.
Other retail companies have also suffered losses, where Best Buy has dropped by 12% and Target by 9%. Also, Harley-Davidson, who was subject to EU revenge fees during Trump's first term, has dropped by 4.5%.
Responding to the sudden collapse of shares in US markets, White House Press Secretary Caroline Leavyt has asked companies to trust President Donald Trump. In an interview for CNN, she was asked if Trump could review the tariffs before they enter into force on 5 April. She stressed that tariffs are not a negotiation process.
