The announcement of the implementation of mutual tariff by US President Donald Trump was seen in the stock market around the world, including the US, the Asian stock market was seen to decline. At the same time, the US dollar fell by half a percent to 103.8 levels, while gold prices in commodity markets reached all-time high levels, as investors moved to this asset as a safe-property. The implementation of tariffs can also be seen on the Indian stock market.
Heavy decline in American market
American stock futures led to a huge decline, increasing the risk of global trade war. According to CNBC, futures associated with Dow Jones Industrial Average declined by 1,069 points or 2.5%. S&P 500 futures declined by 3.6%. Nasdaq-100 futures declined by 4.5%. After the announcement of the tariff, the extended trading in shares of multinational companies declined. Naik and Apple fell by about 7%. In addition, the shares of large vendors of imported goods declined the most. Five Bills fell 14%, dollar tree declined by 11% and the gap declined by 8.5%. Nvidia declined by 5% in tech shares and 7% in Tesla.
Asian market too
The Asian markets and US futures markets declined on Thursday after the announcement of major growth in tariffs. According to the news of AP, Tokyo’s Nikkei 225 index initially fell more than 4%, but then a little managed. It fell 2.9% to 34,675.97. Trump said he is imposing 24% mutual tariffs on Japan, one of the closest colleagues in the United States.
South Korea, who is also an associate, was imposed 25% tariff by the US. Its benchmark Kospi fell 1.5% to 2,468.97. Hong Kong’s Hang Seng fell 1.4% to 22,887.03, while the Shanghai Composite index fell less than 0.1% to 3,348.67. In Australia, S&P/ASX 200 fell 1.3% to 7,830.30. The future of S&P 500 fell 3%, while Dow Jones Industrial Average declined by 2%.
Crude oil price fall
On Thursday morning, the price of US benchmark crude oil fell by $ 2.08 to $ 69.63 per barrel. International standard Brent crude fell by $ 2.06 to $ 72.89 per barrel. The dollar fell from 149.28 yen to 148.07 Japanese yen. Euro rose from $ 1.0855 to $ 1.0897.
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