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Global markets, Wall Street continue to slide after China slaps retaliatory tariffs on imports

  • Global markets faced significant declines on April 4, 2025, following China’s announcement of a 34% tariff on all U.S. Imports starting April 10, as part of retaliatory measures against U.S. Tariffs by President Donald Trump.
  • The S&P 500 futures dropped 3.6%, and Dow Jones Industrial Average futures fell 3.4%, indicating significant losses for U.S. Stock indices.
  • Economists from UBS suggested that these tariffs could potentially reduce U.S. Economic growth by 2 percentage points and raise inflation close to 5% this year.
  • China’s Commerce Ministry stated it would impose stricter export controls on rare earth materials, impacting high-tech products.
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NBC New York broke the news in New York, United States on Thursday, April 3, 2025.
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