Market Downturn Following Historic Gains

After a significant surge in the markets, American equities faced steep declines on Thursday. This downturn came in the wake of President Donald Trump's announcement of a 90-day pause on certain retaliatory duties, overshadowing positive inflation data.

Global Tariff Developments

The European Union has mirrored the US's approach by announcing a similar delay on levies for US goods. Meanwhile, tensions escalated as the White House confirmed an aggregate tariff rate of 145% on Chinese imports, combining new and existing charges.

Impact on Major Indices

The Dow Jones Industrial Average dropped by 2.5%, the Nasdaq 100 slid by 4.19%, and the S&P 500 experienced a 3.46% decline. Additionally, the euro saw a notable increase against the dollar, trading at $1.11932 by late afternoon.

Stay tuned for further updates on this developing story.