Trade Truce: Wall Street and Dow Jones

trade truce: Wall Street also sold off sharply on Friday as investors continued to digest the president's decision to bring a trade truce with China to an abrupt end, according to The Guardian. Ending the worst week this year for US stocks, the the Dow Jones industrial average closed down 98 points 0.4% at 26,485, having lost more than 280 points earlier in the day. The FTSE 100 was down more than 2% as markets across Europe tumbled on Friday, continuing a wave of selling pressure around the world in the aftermath of the president's announcement on Thursday evening. Trump's fresh 300bn China tariff threat spooks markets business live Read more Joshua Mahony, a senior market analyst at the financial trading firm IG, said Hopes of a resolution to the US-China trade war have been dashed once again. In a development likely to have severe ramifications for global growth, Trump said Washington would impose 10% tariffs on 300bn of Chinese goods, in effect placing additional border taxes on the total value of China's exports to the US. The White House already charges tariffs of 25% on 250bn of Chinese goods sold in the US as part of the long-running trade standoff. We are going around in circles, yet there is a feeling that this time we are unlikely to see tariffs averted by simply promising to resume talks. (news.financializer.com). As reported in the news.