Views: 3899|Replies: 4

U.S. stocks plunge amid concerns over trade tensions [Copy link] 中文

Rank: 4

Post time 2019-8-24 19:45:52 |Display all floors
This post was edited by appleeater at 2019-8-24 19:48

U.S. stocks closed sharply lower on Friday after China announced its countermeasures against U.S. tariffs.


The Dow Jones Industrial Average was down 623.34 points, or 2.37 percent, to 25,628.90. The S&P 500 was down 75.84 points, or 2.59 percent, to 2,847.11. The Nasdaq Composite Index decreased 239.62 points, or three percent, to 7,751.77.


The latest exchanges in the long-running tariff row triggered a broad-based sell-off that hit shares of companies with high exposure to China the hardest, such as chipmakers and other top technology names. Dow Jones Industrials components Intel Corp and Apple Inc dropped 3.9 percent and 4.6 percent, respectively.



U.S.-listed Chinese companies traded mostly lower


U.S.-listed Chinese companies traded mostly lower on Friday with nine of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.

Shares of Alibaba and Ctrip.com International declined 4.29 percent and 3.54 percent, respectively, the top two laggards in the top 10 stocks of the index.

Shares of NetEase rose 0.05 percent for the day, the only gainer in the top 10.


U.S.-China trade war intensifies


China will impose additional tariffs on U.S. imports worth about 75 billion U.S. dollars in response to the newly announced U.S. tariff hikes on Chinese goods, the Customs Tariff Commission of the State Council announced Friday.


Based on laws and approved by the Chinese State Council, a total of 5,078 U.S. products will be subject to additional tariffs of 10 or five percent.

The tariff hikes will be implemented in two batches and take effect at 12:01 p.m. Beijing time on September 1 and at 12:01 p.m. on December 15, respectively, the commission said in a statement.


China's imposition of additional tariffs is a forced response to U.S. unilateralism and trade protectionism, the commission said.

The U.S. government announced on August 15 that it will impose additional tariffs of 10 percent on Chinese goods worth about 300 billion U.S. dollars, effective on September 1 and December 15, respectively, in two batches.



Use magic tools Report

Rank: 8Rank: 8

Post time 2019-8-25 10:43:46 |Display all floors

US President Trump has an excellent economic advisor, who is out to bring home all US companies and industries from China. This is great!

Question is who will be able to afford for the expensive goods and services to be sold on international market by US!






Use magic tools Report

Rank: 5Rank: 5

Post time 2019-8-25 18:19:09 |Display all floors
GhostBuster Post time: 2019-8-25 03:43
US President Trump has an excellent economic advisor, who is out to bring home all US companies and ...

Mickey Mouse will buy it
Round Up is good for developing the mind

Use magic tools Report

Rank: 8Rank: 8

Post time 2019-8-26 14:16:34 |Display all floors
GhostBuster Post time: 2019-8-25 10:43
US President Trump has an excellent economic advisor, who is out to bring home all US companies and ...

re: "US President Trump has an excellent economic advisor, who is out to bring home all US companies and industries from China. This is great!"

  Sounds great for the chosen One,   just wonder why the chosen One ain't forbidding big tickets like 'TESLA" building a 86  hectares Giga factory in Shanghai...

APPLE is moving Mac Pro assembly out of the U.S. and into China, CNBC confirms July 2019. Some 6000 Mac pro will manufactured in China...

   Sort of strange having a big lip isn't it...


Use magic tools Report

Rank: 8Rank: 8

Post time 2019-8-26 17:44:28 |Display all floors
Motika Post time: 2019-8-25 18:19
Mickey Mouse will buy it




Thank you for your reply!

US President Trump prides himself as having same if not overriding status than US First President!


Use magic tools Report

You can't reply post until you log in Log in | register

BACK TO THE TOP
Contact us:Tel: (86)010-84883548, Email: blog@chinadaily.com.cn
Blog announcement:| We reserve the right, and you authorize us, to use content, including words, photos and videos, which you provide to our blog
platform, for non-profit purposes on China Daily media, comprising newspaper, website, iPad and other social media accounts.