this post was submitted on 10 Apr 2025
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Economics

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US stocks tumble again as reality sets back in on Wall Street (www.cnn.com)
submitted 4 months ago* (last edited 4 months ago) by MicroWave@lemmy.world to c/economics@lemmy.world
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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.

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[–] nulluser@lemmy.world 8 points 4 months 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.