NYSE turmoil: $6.4 (€5.8) trillion vanishes amid tariff tensions
The New York Stock Exchange recorded unprecedented losses of approximately $6.4 (€5.8) trillion over two days, due to tariffs announced by the USA and retaliatory tariffs by China.
What do you need to know?
- The New York Stock Exchange lost approximately $6.4 (€5.8) trillion in two days, marking a record-breaking result.
- Tariffs imposed by the USA and China are the main cause of the stock market declines.
- The largest declines affected technology, energy, and financial companies, including Tesla and Apple.
What are the causes of the record losses?
According to the "Wall Street Journal," the New York Stock Exchange experienced losses of approximately $6.4 (€5.8) trillion over two days. The tariffs announced by the USA and China's declaration of retaliatory tariffs are to blame.
On Friday, the Dow Jones Index plunged over 2,000 points, which, when coupled with Thursday's declines, resulted in record losses.
Which companies suffered the most?
Friday's trading on Wall Street ended in even steeper declines than those seen on Thursday. The Dow Jones Industrial Average fell by 5.5%, the S&P 500 by 5.9%, and the Nasdaq by 5.8%.
The largest drop-offs occurred in technology, energy, and financial companies, including Tesla (-10.4%), NVIDIA (-7.3%), and Apple (-7.2%).
What's next for US tariff policy?
China announced the imposition of retaliatory tariffs on the USA amounting to 34%, and President Trump vowed that "my policies will never change."
Federal Reserve Chairman Jerome Powell warned that the economic effects of the tariffs could be more severe than anticipated, potentially causing higher inflation and slower growth.
