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Wall Street: Trump's tariffs cause share prices to slide after Easter break!
US stock markets fall sharply after Easter break; Trade conflicts and Trump's criticism of the Fed are weighing on the markets. Current analyzes and developments.
Wall Street: Trump's tariffs cause share prices to slide after Easter break!
On the first trading day after the Easter break, the US stock exchanges recorded significant price losses. The Dow Jones Index fell 2.5% to 38,170 points, while the S&P 500 fell 2.4% and the NASDAQ Composite fell 2.6%. In total, only 387 stocks rose, while 2,402 stocks fell and 28 remained unchanged, as finanzen.net reported.
The decline in the markets is caused, among other things, by increasing uncertainty about the US Federal Reserve's monetary policy, based on criticism from President Donald Trump of Fed Chairman Jerome Powell. Trump reiterated his consideration of firing Powell on social media. These political tensions contributed to pressure on both US stocks and bond prices, as well as the dollar.
Commodity and bond markets affected
As a result, the 10-year US bond yield rose 8 basis points to 4.41%. Oil prices fell as much as 2.2% amid fears about possible negative impacts from Trump's increased tariff policies and the possibility of Iranian oil returning to the market. The WSJ Dollar Index fell 1%.
In contrast, gold prices hit a record high, rising almost 3%. Over 100 companies in the S&P 500 are required to present their financial results this week; These include well-known companies such as Tesla and Alphabet. Tesla shares fell by 5.7% and are already down over 40% this year. The electric car company delivered 13% fewer vehicles in the first quarter than in the previous year, while reports of a lawsuit over odometer manipulation and delays in the introduction of a cheaper electric car also weighed on the shares.
Other prominently affected companies include NVIDIA, whose shares fell by 4.5%, and UnitedHealth, which suffered a loss of 6.4%. In contrast, shares of Netflix rose 1.5% after better-than-expected earnings and revenue, while Capital One and Discover Financial Services rose 1.5% and 3.6%, respectively, after merger approval.
Another factor weighing on markets is the Chinese Ministry of Commerce's warning that trade deals that harm China's interests will not be tolerated. These developments show the existing tensions in the trade relationship with the USA and also highlighted the uncertainty in the markets finanzen.at reported.