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After the United States Imposes Tariffs on Important Trading Partners, the Dow Falls More Than 400 Points

After President Donald Trump imposed tariffs on a number of important U.S. trading partners, sparking concerns that a full-scale trade war would disrupt global supply chains, rekindle inflation, and slow the economy, stocks fell at the beginning of February.

There was a 1.1% decrease of 458 points in the Dow Jones Industrial Average. The Nasdaq Composite fell 1.8%, while the S&P 500 took a 1.5% hit.

The increased tariffs had a risk-off effect that rippled around the world:

Germany’s Dax benchmark was down 1.7%, and major European share markets began to decline.

Bitcoin fell from about $102,000 before the weekend to about $95,000.

Ether had a 12% decline.

A gauge of the value of the US dollar relative to other currencies, the ICE U.S. Dollar Index, increased by 0.8%.

WTI crude oil surged 108% due to worries about the proposed tariffs causing supply disruptions in North America.

Source (CNBC)

SourceCNBC
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