North India Statesman
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American The impact of President Donald Trump increasing the tariff against many countries is now visible. Selling has started in stock markets around the world. The American market is also no exception to this.
The US markets recorded a major decline for the second consecutive day on Friday. It is worth noting that S&P 500 declined by 6 percent. At the same time, Dow Jones Industrial Average fell 2,231 points. S&P 500 has fallen by about 16% from its February record. While Nasdaq -948.58 points or 5.73% fell at 15602.03.
The biggest weekly decline after 2020
S&P 500 and Nasdaq have seen the biggest weekly decline since March 2020. Dow Jones has seen the biggest weekly decline after October 2020. That is, this is the biggest decline after the Kovid-19 epidemic.
Fear of increasing inflation worldwide
American Federal Reserve chairman Jerome Powell said that the imposition of heavy tariffs by Trump is a danger of inflation and recession in the US. Its growth may slow down. Due to the trade war, not only America, but the entire world economy is under threat of recession. Tariffs will increase the prices of goods, which will increase inflation. This will reduce the demand and clear the way of recession.
Trump’s statement in discussion
In a post on Truth social media, Trump said that big businesses are not worried about tariffs because they know they will remain, but their attention is on a beautiful deal. Which will promote our economy. This is very important and its process is still on.
