US stock markets continue slump as China hits back on Trump tariffs
Al Jazeera
Top indices see worst two-day stretch since COVID pandemic, as Fed chair warns of increased inflation and unemployment.
Stock markets in the United States have seen another day of losses as President Donald Trump’s so-called reciprocal tariffs continue to cause global economic uncertainty.
At the close of markets on Friday, the Dow Jones Industrial Average was down by 5.5 percent, the Nasdaq Composite was down 5.8 percent, and the S&P 500 was down nearly 6 percent.
All told, the three indices saw their worst two-day stretch since March 2020 when the economic ravages of the COVID-19 pandemic took hold.
The sharp drops, which mirrored plunges in markets across the world, followed Trump’s announcement on Wednesday of wide-ranging reciprocal tariffs on nearly all trade partners. That included benchmark 10 percent tariffs on most partners, with specific tariffs as high as 50 percent on more than 60 countries.
Reporting from the New York Stock Exchange, Al Jazeera’s Kristen Saloomey said Friday’s tumble also came after China announced a 34-percent tariff on US goods, the most significant retaliation to date.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
The 30-hour cessation of hostilities would have been the most significant pause in the fighting throughout the war.
Ukraine says Russia has launched attacks despite announcing a 30-hour truce for the Easter holiday.
Russia says it expects Ukraine to do the same over the Easter period.
Foreign Minister Abbas Araghchi leads the Iranian delegation, while envoy Steve Witkoff heads the US team.
Court says detained pro-Palestine student has shown ‘significant evidence’ violations to her constitutional rights.
Ukraine has agreed to a full temporary ceasefire and accused Russia of stalling on a truce agreement.
Top US diplomat warns that Washington may withdraw from talks between Russia and Ukraine if swift progress is not made.
Reported death toll marks one of the deadliest attacks by the United States military on Yemen.
Ukraine’s Zelenskyy urges allies meeting in French capital to exert pressure on Russia to reach a ceasefire deal.
Leaders of Canada’s main political parties gather for a televised English-language debate in Montreal.
Iran and the US are set to hold a second round of talks in Rome about Tehran’s nuclear programme.
Trump blasts Jerome Powell as ‘wrong’ after the Federal Reserve chair called US tariffs ‘challenging’ for central bank.
Fatal attacks have shaken several Ukrainian cities, prompting an offer from Kyiv to pay for US air defence systems.