Updated April 8th 2025, 07:44 IST
US Stock Market Split as Trump Dismisses 'Pause' on Tariffs, Threatens 50% Additional Levies on China
The US Stock Market has closed on a mixed note, with Dow Jones plunging by almost 1% but Nasdaq Composite gaining 0.10%, amid Trump dismissing 'pause' on tariff
Washington DC: The US stock markets are currently experiencing heightened volatility, driven by ongoing trade tensions, especially between the US and China. On Monday, the stock market closed on a mixed note with Dow Jones falling by almost one per cent and Nasdaq Composite gaining 0.10%.
As the US stock market continues to bleed, President Donald Trump has denied to ‘pause’ tariffs during negotiations with Israeli PM Netanyahu and has also threatened further levies on China.
US Stock Market Show Mixed Results At Closing on Monday
US stock markets mostly ended lower on Monday amid increased volatility, driven by rising concerns about a potential economic slowdown and escalating inflation directly related to US President Donald Trump’s tariff policies. Investor confidence was further shaken by his warning of more tariffs on Chinese imports.
The Dow Jones Industrial Average dropped by 349.26 points, or 0.91%, closing at 37,965.60, while the S&P 500 fell by 11.83 points, or 0.23%, finishing at 5,062.25. On the other hand, the Nasdaq Composite saw a slight increase of 15.48 points, or 0.10%, closing at 15,603.26.
In the aftermath of President Trump’s tariff announcements last week, the S&P 500 plummeted 10.5% over two days, wiping out around $5 trillion in market value, marking its sharpest two-day decline since March 2020.
Trump Refuses to Press ‘Pause’ On Tariffs During Negotiations with Netanyahu
Amid the global market turmoil triggered by recent US tariff announcements, President Donald Trump has dismissed the possibility of 'pausing' tariffs during ongoing negotiations with other nations. During a bilateral meeting with Israeli Prime Minister Benjamin Netanyahu at the White House on Monday, Trump remarked, "We're not looking at that," emphasizing that the US would continue pursuing fair trade agreements with other countries. "We have many countries we’re negotiating with, and those will be fair deals. In some cases, they will be paying substantial tariffs. They’ll be fair deals," he stated.
US Warns China of 50% Additional Tariffs, Gets Threatened with ‘Countermeasures’
Trump also addressed the current tariff situation with China, criticizing Beijing for increasing tariffs in defiance of his earlier remarks. "If that tariff isn't removed by tomorrow at 12 o'clock, we’ll impose an additional 50% on the existing tariffs," he said, adding, "They've become a wealthy nation because of the previous administrations." This followed China’s decision to impose a 34% retaliatory tariff hike on US goods.
Responding to Trump's threats, China has also threatened the United States back, warning to “resolutely taking countermeasures”. The Commerce Ministry of China said in a statement, “The countermeasures China has taken are aimed at safeguarding its sovereignty, security and development interests, and maintaining the normal international trade order. They are completely legitimate. The US threat to escalate tariffs on China is a mistake on top of a mistake and once again exposes the blackmailing nature of the US China will never accept this. If the US insists on its own way, China will fight to the end.”
Published April 8th 2025, 07:44 IST
