Wall Street Tumbles as Dow Sinks 340 Points after Trump Threatens to Increase Tariffs
Dow Jones sank 1.29% (-340 points) at the opening bell, S&P 500 dipped 1.7% and Nasdaq opened 2.3% lower as tension increase between the U.S. and China.
After the tweet from the U.S. President Donald Trump on Sunday which stated that he would impose 25% tariffs on Chinese goods worth 200 billion dollars by this Friday, the global markets were all sank deep into negative territory on Monday.
The U.S. stock market itself, followed European and Asian markets’ footsteps, opened lower on Monday as well. Dow Jones sank 1.29% (-340 points) at the opening bell, S&P 500 dipped 1.7% and Nasdaq opened 2.3% lower.
Just before the market opened in the U.S., a report came from Reuters stated that officials from China are still coming to the trade talk despite the threat from the U.S. President. However, there was no indication that Chinese VP Liu He, who had led the Chinese delegates many times to trade talks with the U.S. would be a part of this upcoming visit or not.
