US stocks tumble again as reality sets back in on Wall Street | CNN Business
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The US stock market, fresh off its third-best day in modern history, is sinking back into reality: Although President Donald Trump paused most of his “reciprocal” tariffs, his other massive import taxes have already inflicted significant damage, and the economy won’t easily recover from the fallout.

cross-posted from: https://lemmy.world/post/28033197

Summary

US stocks fell sharply Thursday after a historic rally, as investors refocused on lingering economic damage from Trump’s tariffs. The Dow dropped over 900 points, with the S&P 500 and Nasdaq also down.

Despite Trump’s 90-day pause on some “reciprocal” tariffs, others remain, including a universal 10% tariff and 25% duties on autos, steel, and more.

Economists warn of recession risks. China raised tariffs to 125% on US goods, with Beijing responding in kind.

Markets remain volatile, and analysts say temporary relief hasn’t changed underlying economic threats.

  • floofloof@lemmy.caOP
    27·
    9 days ago

    Beijing isn’t going to “respond in kind” to China raising tariffs.

    I read it as meaning Beijing/China will respond in kind to the USA raising tariffs.

    • Null User Object@lemmy.world
      8·
      9 days ago

      China raised tariffs to 125% on US goods

      That’s what Beijing is allegedly responding to in that sentence. There’s no alternative way to interpret it.