Worst week for US stocks since Covid crash as China retaliates happymamay

The disturbances in the stock market deepened on Friday, as China returned to the definitions announced by US President Donald Trump, which raised the possibility of extended trade war and damage to the global economy.

All three main stock indicators in the United States decreased by more than 5 %, with a decrease in the S&P 500 index of approximately 6 %, which led to the worst week of the US Securities Market since 2020.

In the UK, the FTSE 100 decreased by approximately 5 % – more severely decreased in five years, while Asian markets also decreased and exchanged exchanges in Germany and France are similar declines.

Trump, who pledged to reshape the global trade order, refused to concern about the market shock, noting that the American labor market is strong.

He urged his followers on social media: “hanging strongly.” “We cannot lose.”

The Global Securities Market has lost trillion in value since Trump has announced 10 % new import taxes on goods from each country, with products from dozens of countries, including major trading partners such as China, the European Union and Vietnam, and facing rates higher.

Analysts say that the moves, which are scheduled to enter into force as soon as possible, on Saturday, to the largest tax increase in the United States since 1968.

They expect measures to reduce trade, and they warned that they may push many countries to economic recession.

China responded to Trump on Friday by hitting American goods with 34 % import taxes, curbing exports of major minerals and adding American companies to their black list, describing Trump’s actions as “bullying” and violating international trade rules.

Other countries seem to hope that they can negotiate with deals, despite the conflicting signals of the White House about their appetite for talks.

On Friday, he said, Friday, said he had a “Frank” exchange for two hours with American officials, and wrote on social media that the commercial relationship needed a “new approach.”

“The European Union’s commitment to negotiations is meaningful, but it is also ready to defend our interests,” he said. “We are in contact.”

Trump’s moves are consistent with the promises he made on the campaign trail last year.

But they were more long-term than some analysts expected, which led to the worst week in the stock market since 2020, when the Covid-19 pandemic led to global closure and other turmoil.

The sale of companies such as Apple and Nike began, which depends heavily on suppliers in Asia. But on Friday, I moved to sectors that do not usually face the direct impact of definitions, such as consumable foods, health care and facilities.

“Frankly, the mood is very sour and it should be,” said Mike Dixon, head of research and quantitative strategies in the horizon investments in the United States, warning that it will take weeks to understand the effect of Trump’s tariff.

“What we are really concerned now is what we saw at 6 am [when China retaliated]He said, “How much more? “

In a memorandum of investors, JP Morgan said it now puts the possibilities of global economic recession this year by 60 %, up from 40 % before, noting that the shock from definitions can reach growth in the United States by two percentage points this year.

Some investors have reduced the losses, noting that they are affiliated with an amazing increase in the value of stock prices in the United States over the past few years.

“These transformations in the market we see – they are violent because things are declining much faster than they are rising,” said TEM Lagliara, CEO of Capweile, based in Tennessee.

He said that the White House was trying to “great reset” in global trade, but the effort was needed.

“We talked about the imbalance of commercial throughout my career,” he said. “Nothing happened at all. So something should happen.

“We will settle the stadium stadium on some of these relationships, which just came out of the balance.”

Speaking on Friday, Jerome Powell, head of the Federal Reserve, the US Central Bank, said he believed the economy was “strong”, pointing to the latest data that shows strong employment in the United States in March.

But he admitted a high degree of uncertainty.

“What we have learned is that the customs tariff is higher than expected, and almost all the forecasters,” said Mr. Powell.

In New Jersey, the small business owner Pat Moscaritolu said that the changes may force him to close his hardware store, Jacobson Abe, 40 years after work. He urged customers to make any necessary purchases now.

“We don’t know what the price will be at the end of the month,” he said, although it is preparing for prices on elements such as refrigerators that can be 30 % or even 40 %.

On the markets, housing companies were a bright point, and may gather on bets that could lead to low interest rates for mortgages and help the American housing market.

Contributed to Nike, and other clothes retail dealers, who were postponed on Thursday, also cleared some of the floor on Friday, hoping that there would be a deal after Trump said it was a “very fruitful call” with Vietnam leader.

Cambodia also sent a letter to reduce definitions and asked the United States to negotiate.

But other parts of the market remained dark.

The shares in Apple, which relied heavily on China for manufacturing, fell more than 7 % on Friday. The market value of the iPhone has decreased about 15 % since Wednesday.

• Dow Jones decreased by 5.5 %, reducing it by 10 % from the February Summit
• The Nasdaq Stock Exchange has decreased by 5.8 %, eliminating its five value since December, and put it in the “Market bear” area
• In the UK, the FTSE 100 index closed by 4.9 %, which is the largest decrease for one day since March 27, 2020
• In Europe, CAC 40 fell in France 4.3 %, while in Germany, DAX decreased nearly 5 %
• Earlier, in Japan, where the Prime Minister described the situation as a “national crisis”, Nikkei 225 decreased by more than 2.7 %
• Brent crude, the international standard for oil prices, also decreased by 6 %

As the defeat continues, even some of the White House allies began to criticize the measures.

On Bodcast is dedicated to customs tariffs, Republican Senator Ted Cruz from Texas said that Trump’s movements can lead to benefits to the United States, while warning “tremendous risks”.

“If we are in a scenario after 30 days from now, 60 days from now, 90 days from now, with a huge American tariff, and the massive definitions of American goods in every other country on the face of the earth, this is a terrible result,” he said.

In the Falkland Islands, an archipelago was in the South Atlantic, Janet Robertson, Director General of Consolidated Fishing Limited, was wondering how a new 42 % new tax on its exports to the United States would reach its sales in dental fish.

“At the present time, we do not make any dramatic decisions,” she said.

But she added that fishing is the “most important industry in Falklands”.

“Snacks of dental fish in the states are a large part of it,” she said.

“We wonder where everything will end.”

The reports that Tom Esbiner, Nada Tofik, Cai Pigliuccci and BBC World.