US stocks tumble again as reality sets back in on Wall Street
US stocks tumble again as reality sets back in on Wall Street
The US stock market tumbled deeply into the red on Thursday as the White House clarified its plan for a massive 145% tariff on China, escalating a trade war.
Summary
U.S. stocks and the dollar plunged Thursday after the White House confirmed a 145% tariff on Chinese imports, worsening trade tensions.
The Dow fell 1,015 points, the S&P 500 dropped 3.46%, and the Nasdaq slid 4.31%.
Despite Trump pausing some tariffs, core tariffs remain, and economists say damage is done, with recession risks still high.
The U.S. dollar hit a six-month low, gold surged to a record $3,170, and China enforced 84% retaliatory tariffs. Wall Street’s volatility index jumped 40%, underscoring investor anxiety about trade policy and economic stability.
