Current Location: Home » news » Economic » Text

The shadow of trade war dragged down the Dow

放大字体  缩小字体 Release date:2018-03-23  Views:5
Core Tip:China News Service, New York, March 22nd New York stock market's three major stock indexes fell sharply on the 22nd, the
 
China News Service, New York, March 22nd New York stock market's three major stock indexes fell sharply on the 22nd, the Dow fell 724.42 points throughout the day. U.S. media reported that investors’ worries about the trade war between China and the United States were the main reason for the sharp dro in the stock market.

 
 The shadow of trade war dragged down the Dow, the Dow fell by more than 700 points
 
On the day, the Dow Jones Industrial Average closed at 23,957.89 points, down 2.93%; the S&P 500 index closed at 2,643.69 points, down 2.52%; the Nasdaq Composite Index closed at 7,166.68 points, down 2.43%. The three major stock indexes showed similar overall trends on the day, with the opening lower and the mid-afternoon rising. However, there was a sharp decline after three in the afternoon.
 
U.S. President Trump signed a memorandum of resolution against China on the 22nd. based on the results of the "301 investigation," he will impose large tariffs on imports from China, impose restrictions on Chinese investment in the United States, and take measures against China at the WTO. Action and so on. He said that the scale of Chinese commodities involved in taxation could reach 60 billion U.S. dollars. The Chinese Ministry of Commerce previously stated that China will never sit back and ignore the legitimate rights and interests. It will certainly take all necessary measures to resolutely defend its legitimate rights and interests.
 
Analysts believe that the US stock market is currently digesting Trump’s impact on tax increases on imported steel and aluminum and the Fed’s interest rate hike. The day’s decision to impose tariffs on Chinese goods has increased investors’ worries about trade wars, manufacturing and finance. The sell-off of stocks eventually led to the stock market crash.
 
The "Wall Street Journal" pointed out that manufacturing giants such as Boeing and Caterpillar lost their shares the most. Boeing fell 5.19% throughout the day, Caterpillar engaged in construction, mining equipment production fell by 5.71%. In addition, the shares of aluminum and steel products processing companies such as Arconic and Nucor fell sharply. Among financial stocks, JP Morgan Chase fell 4.17%, Goldman Sachs fell 3.53%. The report said that before investors figure out the next step of the White House, the share prices of the manufacturing and raw material industries may not be able to get out of the trend.
 
Both the U.S. dollar index and the New York gold price rose on the day. As of late in New York, the U.S. dollar index for the six major currencies rose by 0.06% to 89.834; the most active April gold futures on the New York Mercantile Exchange’s gold futures market rose by 5.9 U.S. dollars to close at the previous trading day. Ounce 1327.4 US dollars, an increase of 0.45%.
 
 
[ newsSearch ]  [ Add to Favorites ]  [ Tell a friend ]  [ Print ]  [ Close the window ]

 
Total0bar [View All]  Related Comments

 
Recommended Graphic
Recommendnews
Click Ranking