Stocks Plunge As China Retaliates To Trump Tariffs

Stock Market Turmoil Deepened on Friday, As China Hit Back At Donald Trump, Raising The Likelihood of the Extended Trade War and Damage to The Global Economy.

All Three Major Stock Indexed In The Us Plunged More Than 5%, Dropping Almost 6%, Bringing To End The Worst Week For The Us 5. Stock Market 2020.

In the UK, The FTSE 100 plunged almost 5% – ITS Steepest Fall in Five Years, While Asian Markets Also Dropped and Exchanges in Germany and France Faced Similar Declines.

Trump, who has vowed to remake the global trade order, discerns concerns About The Market Shock, Noting That The US Labor Market Is Strong.

“Hang Tough,” He Urged His Followers On Social Media. “We Can’t Lose.”

The Global Stock Market Has Lost Trills Trump Announced Sweeping New 10% Import Taxes From Every Country, With Droes Trading Partners Such As China, The European Union and Vietnam, facing Far Higher Rates.

Analysts Say The Moves, Someone’s What Effect As Soon As Saturday, Amount to The Biggest Tax Increase in the US 1968.

They Expect The Measures To Lead to Trade in Trade, and Have Tho Ward Drive Many Countries Into An Economic Recession.

China Responded by Friday Hitting Us Goods Of 34%, Curbing Exports of Key Minerals and Adding US Blacklist, Describing Trump’s ACTIONS as “Bullying” and A Violation of International Trade Rules.

Other Countries Appear Hoping To Be Able To Negotiate Deals, Despite Conflicting Signals From The White House About Talks About ITS Appetite.

Maroš Šefčovič, The Trade Commissioner for the planned to retaliate, Said Friday That Had A “Frank” Two-hour Us Officials, and Wrote On The Trade Relationship Needed a “Fresh Approach”.

“The EU’s Committed to Meaningful Negotiations But Also Prepared to Defend Our Interests,” He Said. “We Stay in Touch.”

Trump’s Moves Are Promises With Consistent He Had Made On The Campaign Trail Last Year.

But they had a fur-rearching Than Analysts Had Expected, Sparking Some Days for the Worst Day 2020, When The Covid-19 Pandemic Led to Global Shutdowns And Other Disruption.

The Sell-Off Started With Firms As Apple and Nike, which is Rely Heavily Suppliers in Asia. But Friday, It Moved Into Sectors That Would Typically Direct Impact Of Tariffs, Such As Consumer Staples, Healthcare and Utilities.

“Candidly The Mood is Pretty Sour and It Should,” Said Mike Dickson, Head of Research and Quantitative Strategies in The US, Warning That Take Weeks To Take Weeks from Trump’s Tiffs.

“What We’re Really Worried Right Now is What We Saw 6 am-ish (When China Retaliated),” He Said, “How Much More Of That Is Out There?”

In a Note to Investors, JP Morgan’s Odds Of The Odds This Year at 60%, 40% previously, noting That The Tariffs Could Drive Growth in the US Down by 2 Percentage Points This Year.

Some Investors Downplayed The Losses, Noting That Though An Astonishing Run-Up In The Value of the US Over The Past Few Years.

“These Shifts in The Market That We’re Market – They’re Violent Because Things Go Down Than Than Than Than Than Than Than Thin, Chief Executive of Tennessee-Based Capwealth.

Hey Said The White House was Attempting A “Big Reset” in Global Trade But The Effort Was Needed.

“We’ve Talked About Trade Imbalance My Entire Career. Nothing’s Ever Happened. So something has to Happen,” He said. “We Are Going To Level on the Playing Field On These Relationships That Have Just Gotten Out of Balance.”

Speaking on Friday, Jerome Powell, The U.S. Central Bank, Said He thought to the Economy Remained “Solid”, Pointing to The Latest Date Strong Hiring in the US in the US.

But he acknowledged a high degree of Uncertainty.

“What Weve Learned Is The Tariffs Are Higher Than Anticipated, Higher Than Almost All Forecasters,” Mr Powell Said, Warning That Growth Would Slow and Prices Were Likely to Rise.

In the US, Housing-Related Firms Were Bright Spot in the Markets, People Rallying Hopes That The Turmoil Could Lead to Lower Interest Rates for Mortgages and Help The US Housing Market.

Shares in Nike, and other Clothing Retailers, Thursday Also Clawed Back On Some Ground Friday, Buoyed by Trump Said Had A “Very Productive Call” With The Leader of Vietnam.

Cambodia Also sent a letter offering to reduce tariffs and asking The US negotiate.

But the Market of Other Parts of the Market Blle.

Shares in Apple, who relies Heavily Manufacturing on China, Fell More Than 7% Friday. The iPhone Maker’s Market Value has dropped roughly 15% Since Wednesday.

• The Dow Jones Fell 5.5%, Bringing It Down 10% From IT February Peak – a Milestone Known as A Correction.
• The Nasdaq Dropped 5.8%, Wiping Out A Roughly Fifth Of It Value December.
• In The UK, The FTSE 100 Index Closed 4.9% Lower, The Biggest One-Day Drop Since 27 March 2020.
• In Europe, France’s Cac 40 Dropped 4.3% While in Germany The Dax Fell Support 5%.
• Earlier, in Japan, Where The Prime Minister Called The Situation A “National Crisis”, The Nikkei 225 Fell More Than 2.7%.
• Brent Crude, The International Oil Price Benchmark, Also Dropped Almost 6%.

As The Rout Continued, Even Some White House Allies Started to Criticise The Measures.

On a podcast devoted to tariffs, Republican Senator Ted Cruz’s Texas Said Trump’s Moves Could Lead to Benefits For The Us, While Warning of “Enormous Risks”.

“If We’re in Scenario 30 Days From Now, 90 Days From Now, With Massive American Tariffs, And Massive Tariffs On Earth On Earth, That Is A Terrible Outcome,” He Said.

The Tariff Announcements Have Shake Confidence in The US and Abroad.

In Kansas, Louise and Vance Ehmke Sat Awake This week at 3am Worried for Their Wheat and Rye Seed Farm.

They Expected Thiffs Trump Imposed Last Month on Steel and Aluminum to Raise Prices for The Plow Blades That Buy From Canada.

Their Industry, which is Sells Many of Izz Crops Abroad, Is Also Bracing To Retaliate To Retaliate.

“It’s Not Good News For Us Farmers And It Sure As Hell is Not Good News Who Buys Anything Imported,” Said Vance.

In the Falkland Islands, An Archipelago Ocean, Janet Robertson, The General Manager’s Consolidated Fishing Limited, Was Was A New 42% Tax IT Exports to Hit IT Sales Of Toothfish.

“At The Moment, We’re Not Making Any Dramatic Decisions,” She Said.

But, She added, Fishing Is “by Far The Most Important Industry in The Falklands”.

“The Sales of Toothfish Into The States Are A Big Part Of,” She Said.

“We’re WHERE WHERE WHERE TO ALN END UP.”

Reporting contributed by Tom Espiner, Cai Pigliucci and The BBC’s World Service.