Market Turmoil as Dow Crashes

In a dramatic turn of events, major stock equities in the United States have continued their downward spiral on Thursday. The ongoing economic uncertainty, fueled by an escalating trade war between the US and China, has left investors in a state of panic.

White House Clarifies Tariff Rates

The White House has clarified that the overall tariff rate applied to Chinese goods now stands at a staggering 145%. This announcement has raised concerns over Beijing's potential retaliation, further dampening the already bleak investor mood.

Historic Losses for Major Indices

The Dow Jones nosedived by 5.21%, or 2,105 points, marking one of its worst days in recent history. Similarly, the Nasdaq 100 lost 6.78%, its worst performance since 2020, while the S&P 500 plunged by 5.86%.

Euro Rallies Against the Dollar

On the currencies front, the euro saw a significant rally against the dollar, jumping 2.31% and selling for $1.12019.