The stock indices in the United States experienced significant losses in the first minutes after trading opened on April 3, dropping between 2.7% and nearly 4%. This occurred following the announcement by US President Donald Trump regarding the imposition of tariffs on goods from almost all countries around the world.
This is reported by Finway
In particular, the Dow Jones index lost more than 1100 points, or 2.7%, while the S&P 500 index fell by more than 3.2%. The Nasdaq index, which reflects the stock prices of high-tech companies, dropped by 4%.
Tariffs on Imported Goods
On April 2, President Trump announced new tariffs on imported goods to the United States. The base tariff rate will be 10% for all foreign goods, while for European Union countries it will increase to 20%, for China to 34%, for South Korea to 25%, for Japan to 24%, and for India to 26%.
Prospects for the US Economy
The International Monetary Fund expressed concern regarding these tariffs, noting that Trump’s decision could create significant uncertainty and undermine confidence in the global economy. However, they believe it is unlikely to lead to a recession in the near term.
“Trump’s tariff policy creates significant uncertainty and undermines confidence,” said IMF representatives.