{"id":3203,"date":"2025-04-04T22:05:01","date_gmt":"2025-04-04T22:05:01","guid":{"rendered":"https:\/\/nationalgunowner.org\/index.php\/2025\/04\/04\/stock-market-shudders-for-second-straight-day-as-china-strikes-back-against-trump-tariffs\/"},"modified":"2025-04-04T22:05:02","modified_gmt":"2025-04-04T22:05:02","slug":"stock-market-shudders-for-second-straight-day-as-china-strikes-back-against-trump-tariffs","status":"publish","type":"post","link":"https:\/\/nationalgunowner.org\/index.php\/2025\/04\/04\/stock-market-shudders-for-second-straight-day-as-china-strikes-back-against-trump-tariffs\/","title":{"rendered":"Stock market shudders for second straight day as China strikes back against Trump tariffs"},"content":{"rendered":"
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The stock market is poised for a second straight day of sharp declines amid mounting investor concerns about U.S. economic growth and the prospect of a global trade war.\u00a0<\/p>\n

Ninety minutes before the start of trade in New York, Dow Jones Industrial Average futures were down nearly 1,500 points, or 3.6%. Futures on the S&P 500 and Nasdaq Composite slid 3.7% and 3.9%, respectively.\u00a0<\/p>\n

Those numbers set up financial markets for another precipitous fall after stocks on Thursday suffered their biggest one-day drops<\/a><\/span> since 2020, vaporizing roughly $2 trillion in investor wealth, according to FactSet.<\/p>\n

Investors are moving to reduce their exposure to risky assets after President Trump on Wednesday announced a 10% baseline tariff<\/a><\/span> on all U.S. trading partners and upped levies on dozens of countries that charge higher taxes on American exports.<\/p>\n

Economists and Wall Street analysts expect the fresh round of tariffs, which the Trump administration has dubbed “Liberation Day,”<\/a><\/span> to reduce economic growth and lift inflation. Most market analysts still put the odds of a recession at less than 50%, although they warn that conditions look increasingly fragile.\u00a0<\/p>\n

“The opening salvo Wednesday afternoon was too devastating, puerile and economically illiterate to move past, and the economic downturn that was already underway will now evolve into something worse,” equities analyst Adam Crisafulli, head of Vital Knowledge, said in a note to investors.\u00a0<\/p>\n

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Why the stock market’s reaction to Trump’s tariffs matters<\/span><\/p>\n

11:04<\/span><\/p>\n

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Overseas markets also slid Friday. In overnight trading in Asia, Tokyo’s Nikkei 225 lost 2.8%, while South Korea’s Kospi sank 0.9%. Markets in Shanghai, Taiwan, Hong Kong and Indonesia were closed for holidays, limiting the scope of Friday’s sell-offs in Asia.\u00a0<\/p>\n

In European trading, Germany’s DAX lost 2%, France’s CAC 40 in Paris dipped 1.6% and Britain’s FTSE 100 shed 1.7%.<\/p>\n

Mr. Trump has warned other countries not to retaliate to the barrage of levies on U.S. imports. Ignoring that advice, China on Friday said it will impose a 34% tariff on imports<\/a><\/span> of all U.S. products starting April 10.\u00a0<\/p>\n

The new tariff matches the rate of the U.S. tariff announced by Mr. Trump this week, which he called a “reciprocal” measure, claiming China had tariffs and other measures in place on U.S. goods already that amounted to a 67% trade barrier.\u00a0<\/p>\n

“The tariff developments will remain the dominant driver for financial markets over the near-term,” John Canavan, lead U.S. analyst at Oxford Economics, said in a report. “President Trump’s announced tariffs weaken the outlook for economic growth and add to the risks of higher inflation.”<\/p>\n

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The Associated Press<\/span><\/p>\n

contributed to this report.
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