The reciprocal tariff of 34% on China announced by U.S. President Donald Trump on the “Liberation Day” could impact iPhone maker Apple’s gross margin by 9%, warned Citi. The 34% tariff is on top of the existing 20% tariffs on China. Citi explained that its estimate reflects a scenario where Apple fails to secure an exemption and does not pass through the higher costs to the customers.
The global economic system that the United States has shaped and steered for more than three-quarters of a century was animated by a powerful guiding vision: that trade and finance would be based on cooperation and consent rather than coercion.
That system, for all its faults, entrenched the United States as the world’s richest nation and its sole financial superpower.
» Read more about: Trump’s Trade War Risks Forfeiting America’s Economic Primacy »
The largest tech companies in the U.S. have seen drastic drops in stock prices, as markets continue to grapple with the ramifications of President Donald Trump‘s “Liberation Day” tariffs.
The “Magnificent Seven”—a group of Nasdaq companies that include household names such as Apple, Microsoft and Google—saw drops after markets opened for the first time since Trump launched the new policy.
» Read more about: Big Tech 'Magnificent Seven' Stocks Take a Hammering in Premarket »
The cryptocurrency market temporarily got a boost following President Donald Trump’s electoral win, as some investors hoped his lighter approach to crypto regulation and outright promotion of certain coins would lift many digital tokens higher.
But the threat of tariffs, fears of a potential recession, and increasing pessimism from some investors have caused many cryptos to fall over the past few months.
» Read more about: 2 Tech Stocks With More Potential Than Any Cryptocurrency »
Shares in retailers such as Walmart, Target, along with major consumer brands, also tumble as Trump targets suppliers
» Read more about: Apple, Amazon, Nvidia and other U.S. big tech stocks hit by tariffs »
Investing
Liberation Day was met with some pretty significant panic selling activity. And while it’s tough to justify buying shares in this environment as President Trump keeps raising the bar on tariffs on more than a handful of nations,
The U.S. stock markets are taking a beating as investors fear on the impact of President Donald Trump’s tariff plan.
Quickly after opening, the Dow Jones, the NASDAQ and the S&P 500 all took a dive. By 11 a.m., the Dow was down 1,529 points. The NASDAQ was down 1,011 points –
The Dow Jones Industrial Average plunged 1,581 points, or 3.8%, to 40,634, in morning trade Thursday as spooked investors tried to assess the impact of the latest round of Trump administration tariffs.
President Trump on Wednesday announced a 10% baseline tariff on all U.S. trading partners and increased levies on dozens of countries that charge higher taxes on American exports.
» Read more about: Dow Jones plunges more than 1,000 points as stocks react to Trump tariff shock »
U.S. stocks are taking a beating Thursday morning after President Donald Trump unveiled reciprocal tariffs against more than 180 countries.
On April 5, the White House plans to impose a 10% tariff on all countries. It also plans to impose higher individualized reciprocal tariffs on the countries with which the United States has the largest trade deficits starting April 9.
» Read more about: US Stocks Tank as Dow Falls Over 1,500 Points on Trump Tariff Uncertainty »
Financial markets around the world are reeling Thursday following President Donald Trump’s latest and most severe volley of tariffs, and the U.S. stock market may be taking the worst of it.
The S&P 500 was down 4% in morning trading, worse than the drops for other major stock markets.