wall Street
China has imposed an additional fee of 34% on all the products imported from there on Friday, reversing the US. Earlier, the US had imposed a heavy tariff of 54%(34%+20%) on Chinese goods. The counter -tariffs imposed by China will come into effect from April 10. Many American companies are going to suffer heavy losses due to this retaliation of China. This is the reason that today there is a huge destruction in the US stock market. On Thursday, there was a tremendous selling in Wall Street.
Wall street falls heavy fall
On Friday, the major American index Dow Johns was seen trading with a decline of 3.45 per cent. Apart from this, S&P 500 4.10 per cent, Nasdaq 4.55 per cent and small cap-20000 index fell 5.92 per cent. Shares of American IT companies have seen heavy selling even today.
Tesla’s share fell 10%
There has been a furore in the stock of the world’s legendary company Envidia, which makes semocardy chip from China’s counter -tariff. The stock appeared to trade with a decline of 7.12 per cent. At the same time, the stock of Apple, the world’s largest company, lost 4.66 percent. In addition, Meta’s stock saw 5.45 per cent decline in Microsoft’s shares, 1.42 per cent, Google shares 2.06 per cent and Tesla’s stock saw a huge decline of 10.08 per cent.
Broken oil market
The oil market has been badly broken due to Donald Trump’s new tariff policy. On Friday evening, crude oil was seen trading at $ 60.71 per barrel with a WTI 9.28 per cent or $ 6.21. At the same time, Brent Oil was seen trading at $ 64.25 per barrel with a decline of 8.41 per cent or $ 5.93.
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