US stocks, dollar tumble as Trump’s trade war rattles Wall Street | CNN Business
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The US stock market tumbled deeply into the red on Thursday as the White House clarified its plan for a massive 145% tariff on China, escalating a trade war.

Summary

U.S. stocks and the dollar plunged Thursday after the White House confirmed a 145% tariff on Chinese imports, worsening trade tensions.

The Dow fell 1,015 points, the S&P 500 dropped 3.46%, and the Nasdaq slid 4.31%.

Despite Trump pausing some tariffs, core tariffs remain, and economists say damage is done, with recession risks still high.

The U.S. dollar hit a six-month low, gold surged to a record $3,170, and China enforced 84% retaliatory tariffs. Wall Street’s volatility index jumped 40%, underscoring investor anxiety about trade policy and economic stability.

  • Null User Object@lemmy.world
    7·
    12 days ago

    China raised tariffs to 125% on US goods, with Beijing responding in kind.

    Who’s responding to who?!?! That sentence doesn’t appear anywhere in the article, so summary was clearly written by AI.