The US share markets have seen the worst day since Covid’s pandemic after investors shaken by the Trump rates | Trump rates

The US share markets collapsed on Thursday while the investors analyzed the vast change in the global trade following the announcement of Donald Trump of a barrage of a barrage of rates on the country’s commercial partners.

All three main US share markets closed on the worst day since June 2020, during Covid’s pandemic. The heavy Nasdaq of technology dropped by 6%, while the S&P 500 and the DOW decreased by 4.8%and 3.9%respectively. Apple and Nvidia, two of the largest companies in the United States for market value, had lost a combined value of $ 470 billion by noon.

In the meantime, the US dollar has touched a minimum of six months, descending at least 2.2% on Thursday morning compared to other important currencies and oil prices are sunk on the fears of a global slowdown.

Although the United States equity market has been used for tumultuous mornings in recent weeks, future US shareholders – an indication of the probable direction of the market – have precipitated after the announcement. Hours later, Japan’s Nikkei index collapsed at a minimum of eight months and was followed by falls in the equity markets in London and throughout Europe.

The White House has developed a list of countries, including some of its greatest commercial partners and those uninhabited From man, this will receive mutual rates. Many economies will see new rates above 20%, including EU, China, Japan and Taiwan.

The basic rate of 10% will come into force on April 5, while mutual rates will begin on April 9, according to the White house.

“The markets will boom will go to Boom,” Trump said to journalists in the White House while he left for Florida for the weekend. “I think he’s going very well.”

Economists have for months warned High rates are a serious risk for the United States economy, pushing prices for consumers on everything, from cars to wine and destabilizing the role of the United States in the global economy.

But this did not prevent Trump from taking a celebratory tone to the event nicknamed “Liberation Day”. Trump tried to paint rates such as the beginning of “The Golden Age of America”.

“We will begin to be intelligent and we will start being very rich,” Trump said.

Thursday Howard Lutnick, the secretary of trade, defended the move. “The president is not about to collect what he announced yesterday. He is not about to get back,” he told CNN.

Many important American company groups have spoken against rates, including the corporate round table, a leader of the main US companies including JP Morgan, Apple and Ibm, who invited the White House to “quickly reach the agreements” and remove the rates.

“Universal rates ranging from 10-50% run the risk of causing serious damage to producers, workers, families and American exporters,” said the round table of the business in a note. “Damage to American economy It will increase longer the rates are underway and can be exacerbated by retaliation measures. “

In a declarationThe National Retail Federation, a lobbying group for the retail sector, said that the new rates adversely affect the corporate environment for retailers.

“The more rates are equivalent to more anxiety and uncertainty for American businesses and consumers. While Washington leaders may not worry about the highest prices, they make labors of American families,” said the group.

Contrary to what Trump said about the works that the rates will create, the National Association of Manufacturers he said Rates actually “threaten investments, jobs, supply chains and, in turn, the ability of America to overcome other nations and guide as a pre -eminent production superpower”.

The rates also appear unpopular among the voters. A survey Released on Wednesday before Trump’s announcement, he found that only 28% of Americans believe that rates help the economy, while 58% believe that the impacts will be harmful.

But in his speech yesterday, Trump appeared ready to be provocative against any criticism.

“In the next few days, there will be complaints from globalists, outsiders and special interests and false news,” he said. “This will be a completely different country in a short period of time. It will be something that the whole world will speak.”