The US stock market has been seriously affected by another Trump’s radical move in the trade war with China.
The US Stock Market Takes a Plunge
It seems that the China-American trade clash has affected the US stock market seriously. Earlier this week, Trump’s advisors have accused China of backing down on previously accepted trade commitments towards the USA. This has caused the Dow Jones Industrial Average to drop for almost 500 points.
After Trump announced he would raise import taxes by 25% on $200 billion of Chinese products, the decline of various indexes ensued. For example, the already mentioned Dow Jones Industrial Average went down for another 450 points.
The prospects of achieving any kind of a deal seem pretty grim after the radical moves made by both Chinese and American administration.
Hopefully, things will get much clearer after a meeting between American and Chinese officials scheduled for this Thursday and Friday.