US Stock Market Nosedives After Trump Threatens To Respond To China Tariffs

Muhammad Irfan Published August 23, 2019 | 09:42 PM

US stock shares of major companies dropped sharply on Friday immediately after President Donald Trump threatened to respond to China for imposing new tariffs on American goods

NEW YORK (UrduPoint News / Sputnik - 23rd August, 2019) US stock shares of major companies dropped sharply on Friday immediately after President Donald Trump threatened to respond to China for imposing new tariffs on American goods.

As of 11:35 a.m. EST (3:25 p.m. GMT) the Dow Jones index was down 1.4% (about 378 points), tech index Nasdaq by 1.

75 percent (139 points), and the S&P 500 had dropped by 1.5 percent (44 points). The markets, traded at the New York Stock Exchange, close at 4:00 p.m. EST.

Trump said by Friday afternoon he will respond to China's decision to impose new tariffs on US goods worth $75 billion a year. Trump also demanded that US companies look for an alternative to China in their activities.