US tariffs send stocks, dollar and oil plunging

The dollar fell as much as 2.6% against the euro, its biggest one-day drop in a decade, and also suffered big losses against the yen and sterling.

In the stock market, Wall Street's tech-heavy Nasdaq Composite index fell about 6%, while the S&P 500's decline was its biggest one-day drop since 2020.

“The simultaneous decline in both stocks and the US dollar shows investors’ confidence in Trump’s trade policy,” said Fawad Razaqzada, an analyst at City Index and FOREX.com.

American tax makes stocks fluctuate and the stock market also fluctuates. Image 1 — President Donald Trump speaks during an event announcing US tariffs on the White House grounds. Photo: White House

From technology to apparel

Shares of apparel companies, which rely on cheap labor in overseas factories, fell sharply, with Nike down more than 11% and Gap down more than 20%.

Apple, whose iPhones are mostly made in China, fell more than 9%. Globally, shares in major sectors including autos, luxury goods and banks were also hit hard.

Shares of Jeep maker Stellantis fell 7.5% after the company said it would suspend production at some plants in Canada and Mexico as a 25% auto tariff takes effect.

Tokyo's Nikkei index briefly fell more than 4 percent. In Europe, both the Paris and Frankfurt stock exchanges ended the trading day down more than three percent.

Oil prices fell more than 6% on concerns that the economic downturn will hit demand.

Gold, a safe haven in times of uncertainty, hit a new high of $3,167.84 an ounce before retreating slightly. Government bond yields fell as investors fled riskier assets and poured money into safe-haven Treasuries.

List of tariffs that the US imposes on countries around the world

American tax makes stocks fluctuate and the stock market also fluctuates. Image 2

Renting a US company makes the stock market fluctuate and the capital also fluctuates. Image 3

Renting a US company makes the stock market fluctuate and the capital also fluctuates, picture 4

Is there any possibility of negotiation?

The panic came after the US president announced a series of harsher-than-expected tariffs targeting most countries. These measures included a 34% tariff on China, 20% on the European Union, 46% on Vietnam and 24% on Japan.

Some other countries will face tailored tariffs, and for the rest, President Trump said he would impose a “base” tariff of 10%, including the UK.

White House press secretary Karoline Leavitt appeared to rule out the possibility that Trump would cancel any tariffs before they are imposed next weekend. However, Trump later said he would negotiate “as long as they come up with something good.”

Countries are leaving the door open for talks. China has said it will take “countermeasures” and urged Washington to cancel the tariffs, while calling for dialogue.

European Union chief Ursula von der Leyen said the bloc was "preparing for further countermeasures" but she stressed "it is not too late to address concerns through negotiations".

Hoang Huy (according to CNA, AFP, CNN)

Source: https://www.congluan.vn/thue-quan-my-khien-chung-khoan-dong-do-la-va-dau-mo-cung-lao-doc-post341375.html