rewrite this content using a minimum of 1000 words and keep HTML tags
US Stock Market Update: Dow Jones Industrial Average (DJIA) futures—an early indicator of the American blue-chip index—fell as much as 386 points, or 1.0 per cent, to 40,189 in the early hours (local time) amid growing tensions about the ongoing trade war. US President Donald Trump’s office said that China now faces a 245 per cent tariff on its exports into the US, blaming Beijing’s “retaliatory actions”. The news comes amidst a series of tit-for-tat tariff actions by both sides, including the Trump administration’s 145 per cent levy on imports from China and China’s 125 per cent duty on American goods.
Trump initially imposed reciprocal tariffs on numerous countries with which the United States had significant trade deficits. However, he later agreed to pause these tariffs for 90 days after many of those nations began discussions with the US administration to negotiate new trade agreements.
“More than 75 countries have already reached out to discuss new trade deals,” the White House fact sheet said. “As a result, the individualised higher tariffs are currently paused amid these discussions, except for China, which retaliated,” the fact sheet added.
At 3:06 am Eastern Time (1:56 pm in India), DJIA futures were trading 346 points, or 0.9 per cent, lower at 40,229.
The development comes as investors prepare for a long weekend owing to the Good Friday holiday across most major markets around the globe, including the US and India.
Investors have remained on the back foot ever since the 47th US President’s April 2 announcements that instantly fuelled fears of retaliatory actions by America’s major trade partners and the overall impact of these moves on the global economy and inflation.
ALSO READ: US-China Trade War Escalates: China now faces up to 245% tariffs from US, says White House
US Share Market Triggers | Key things to track on April 16
Here are a few important things to watch out for on Wall Street on Wednesday.
US crude oil stockpiles data
US retail sales data
US factory output data (industrial production)
Fed Chair Jerome Powell’s speech
ALSO READ: Headwinds from global trade disruptions continue to pose downward risks: RBI Governor as Trump’s tariffs come into force
Catch key stock market updates here. For all other news, visit Zeebiz.com.
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this
Source link
