WASHINGTON: US stocks dropped sharply after China retaliated against Trump’s tariffs, escalating the global trade war.
The Dow Jones fell 1,000 points, or 2.5%, in early trading.
The S&P 500 plunged 2.6%, reflecting widespread investor concerns.
The tech-heavy Nasdaq tumbled 3%, nearing a 20% drop since December.
Trade War Impact
The stock decline came despite a stronger-than-expected US jobs report.
China’s retaliatory tariffs fueled uncertainty, rattling global markets.
Investors remain focused on the escalating US-China trade tensions.
Economists warn that continued tariffs could weaken global economic growth.
Market analysts anticipate further volatility in the coming weeks.
Jobs Report
The US economy added 228,000 jobs in March, surpassing expectations.
February’s revised job gains stood at 117,000, according to the Bureau of Labor Statistics.
The unemployment rate rose slightly to 4.2%, up from 4.1% in February.
Economists had predicted job growth of 130,000 and a 4.2% unemployment rate.
The labor market remains on a historic growth streak, now lasting 51 consecutive months.
Economic Uncertainty
Despite job growth, economic uncertainty is rising due to Trump’s policies.
Major concerns include large-scale federal layoffs, budget cuts, and mass deportations.
Tariffs are expected to have significant long-term economic consequences.
Federal workforce reductions have already impacted job figures.
In February, the government sector lost 11,000 jobs, followed by 1,000 in March.
Future Outlook
The ongoing trade war could trigger further stock market declines.
Businesses are increasingly concerned about long-term economic stability.
The global economy faces potential disruptions if trade tensions persist.
Trump’s latest tariffs may lead to prolonged financial instability.
Market analysts urge caution as uncertainty grows across all sectors.
