Market Turmoil as China Hits Back with Tariffs

In a dramatic response to the United States' recent tariff increases, China has imposed countertariffs of 84%, sending shockwaves through the US stock markets. The Dow Jones Industrial Average witnessed a significant drop, losing 601 points, which translates to a 1.60% decrease. Similarly, the Nasdaq 100 and the S&P 500 were not spared, with losses of 1.04% and 1.39%, respectively.

Currency Markets React

The euro gained strength against the dollar, climbing by 0.70% to $1.10357, as investors sought safer havens amidst the escalating trade tensions between the two economic giants.