US President Donald Trump announces new tariffs, sharp fall in stock markets across the world
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After the announcement of new tariffs by US President Donald Trump, there has been a sharp decline in the world’s stock markets. After the announcement of new tariffs, prices are expected to rise and the economy of America and other countries will be affected. The Wall Street Journal has reported that after this announcement, the US stock market fell by $ 27 trillion.
Standers & Poor’s-Five Hundred, associated with 500 large companies of America, recorded a decline of 4.8 percent. This is the biggest decline since the Kovid epidemic in 2020. After this announcement, there was a downward trend in financial markets from Asia to Europe. Stocks fell by 2.7 percent in Europe, Dow Jones by about four percent and Nasdaq by about six percent. Oil prices also fell by two US dollars per barrel.
The World Trade Organization has expressed deep concern over this situation. The business community says that the new tariffs will increase inflation and slow down economic growth.
China has accused the US of creating instability in global markets. The European Union has promised tough measures to deal with the situation. France has talked about imposing heavy taxes on American technology companies. European Commission President Ursula von der has described the tariffs imposed by President Trump as a huge blow to the world economy.
