American stocks reduce their losses in mid -day transactions
The Standard & Poor’s 500 index fell to American stocks 3.6% in the afternoon, while it had declined by 5% by the afternoon today, to lose more than half of the gains it achieved yesterday, after the White House announced today the increase in fees on Chinese goods to 145%.
American stocks
By one o’clock and 35 minutes of the Eastern Coast time of the United States, the Standard Dow Jones Industrial Index losses declined to 1135, or 2.8%, after he lost 1701 points, or 4.2% until twelve and 10 minutes, and the NASDAC index losses fell to 4.3% compared to losses by 5.7% about an hour and a half ago.
This comes while Hano Wiga, Economy Analyst at UBS, said in a report: “It seems that Trump closes his eyes, but the damage has not been fully repaired.”
Customs
Wiga said that Trump focuses more on China, so raising customs duties on its products to more than 145% and that even if it is negotiated to reduce it to about 50%, and if only 10% fees remain on other countries, the damage that will be caused to the American economy may be sufficient to weaken the expected growth of the profits of the upcoming American companies.
It accelerated on Thursday after the White House explained that Chinese imports will undergo customs duties by 145%, not 125%that Trump talked about in his post on the “Truth Social” platform on Wednesday, after the inclusion of the previous 20%fentanel fees.
Trade war
“Everything is still very volatile because with Donald Trump does not know what you are waiting for … this is a great ambiguity in the market. The risk of recession is still standing,” said Francis, CEO of Geo Sikorite.
At the same time, China has begun to communicate with other countries to deepen its trade relations, in light of the escalation of the United States.
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