Large US stock indices all trade on Friday, in which is seen as a sign of market concerns about inflation and volatile trading prospects under the Trump administration.
When the markets closed later that day, the Dow fell 1.69 percent, the S&P 500 fell 1.97 percent, and the Nasdaq fell by 2.70 percent as investors stopped at the White House total tariff strategy next week.
“If you have a big day like it and everyone expects the worst, what people do is the risk of risk, so we see that the selling acceleration goes to a weekend,” said Jay Woods, chief world strategist at Freedom Capital Markets. The Wall Street Journal. “I think the opportunity myself will probably get a rally. It sells the rumor, buy the news in this case. ‘
The numbers place the market closer to some of its largest one-day drops, such as the 975-point Dow dive that got to the start of the Covid pandemic in April 2020.
Friday’s market disc comes the same day when the Department of Trade Data released a higher than predicted inflation in February, which was 2.8 percent higher than one year ago with one measure.
Traders are probably also pricing in the upcoming changes of Donald Trump’s planned 25 percent rate on imported cars, which will come into effect on April 3.
Car manufacturers around the world felt the pain on Friday, with GM, Toyota, Tesla and Mercedes all traded.
In 2024, the US imported $ 214 billion passenger cars, about half of all cars sold in the country.
Not only is the rates expected to affect the US market, but it can also ruin the largest trading partners, such as Canada, which employs about 500,000 car workers.
New Prime Minister Mark Carney has pledged to draw up retaliation rates if the US follows the plan.
Trump said on Friday he had a “very, very good talk” with Carney.
“We’re going to end up with a very good relationship with Canada and many of the other countries,” the president added. “Some probably won’t be that pleasant. I think most countries agree with me. ‘
The president also threatened to set up a 200 percent rate on European wine and spirits, a 25 percent tariff on countries using Venezuelan oil, and traded back and forth with China.
Trump has promised that rates will revive US manufacturing and April starts its new rates the ‘start of the liberation day in America’.
During remarks in Alina Habba as a US lawyer of New Jersey, Trump said he was working with Republican leaders in Congress on a plan to offer tax deductions for Americans made in the US
“I’m very proud to say it was my idea,” Trump said.
