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After the rise in the Asian and European markets, today, on Tuesday, April 8, the US stock market also has a rise. The Dow Jones index has a gain of about 1300 points or 3.40%. The US market has gained momentum today after falling 10% in three consecutive trading days.
At the same time, the S&P 500 index of the US market has reached 5,232 levels with a gain of 170 points or 3.35%. Nasdaq composite has a gain of 590 points or 3.80%. It is trading at the level of 16,190. Shares such as Nvidia, JP Morgan and Boeing have up to 7.60%.
US market declined by 0.91% on 7 April
- On 7 April, the US Dow Jones fell 349 points (0.91%) to close at 37,965. The S&P 500 index declined by 0.23%. Nasdaq composite was up 0.09%.
- 7.83%has fallen in Nikkei, Japan, 5.57%in Korea’s Kospi Index, China’s Shanghai index has fallen 7.34%. Hong Kong’s Hangseng index had fallen by 13.22%.
- Germany’s Dax index in European markets closed down 4.26%. The UK’s FTSE 100 index closed 4.38% and Spain’s IBEX 35 index closed by 5.12%.
Causes market volatility
On 3 April, US President Trump imposed a Tit tariff to the world like worldwide. It has announced to impose 26% tariffs on India. China will take 34%, European union 20%, South Korea 25%, Japan 24%, Vietnam 46%and Taiwan will take 32%tariffs.
The move has started a tariff war. In response to America’s tariff, China has announced to impose 34% counter -tariff on the US. The new tariff will be applicable from April 10.
After China’s announcement, Trump said on Monday that if China does not withdraw 34% tariff on the US, then 50% additional tariff will be applicable from Wednesday.
Tariff War has increased the concern of the Economic Slodown. People will make less purchases when the goods are expensive with tariffs, which can reduce the speed of the economy. Also, crude oil prices have also fallen due to low demand. This is a sign of weak economic activity.
Reciperook tariff will be implemented from April 9
10% baseline (minimum) tariff has been imposed on all the items coming in the US. The baseline tariff came into effect from 5 April. At the same time, the reciperook tariff will be implemented after 12 pm on 9 April. Baseline tariffs are imposed on imports under the general rules of business, while reciperook tariff is imposed in response to the tariff of another country.
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