Market Turmoil as Dow Jones Suffers One of Its Worst Days

In a dramatic end to the trading week, the Dow Jones Industrial Average plummeted by 5.50%, losing a staggering 2,231 points. This sharp decline was mirrored by the Nasdaq 100 and S&P 500, which fell by 6.07% and 5.97% respectively, signaling widespread investor panic.

Trade Tensions Intensify Between US and China

The market's downturn was exacerbated by escalating trade tensions, as China imposed a 34% retaliatory tariff on US goods. This move was a direct response to US President Donald Trump's reciprocal tariffs, further straining relations between the two economic powerhouses.

Federal Reserve Issues Warning on Economic Impact

Adding to the day's financial woes, Federal Reserve Chair Jerome Powell cautioned that the tariffs could have a more significant economic impact than previously anticipated, heightening fears of a global recession.

The euro also felt the pressure, trading 0.96% lower against the US dollar, closing at $1.09462.

As the market closes on this tumultuous note, investors and analysts alike are bracing for what the coming week may bring.