The Dow plunged more than 600 points after President Trump responded to China's new retaliatory tariffs impacting $75 billion worth of US goods, and criticized the US Federal Reserve
The Dow dropped more than 700 points at its worst, closing down 2.4%, or 623 points. The S&P 500 and the Nasdaq Composite finished 2.6% and 3% lower, respectively. It was the worst day for stocks since August 14. All three indexes had been on track to break a three-week long losing streak at the start of the day, but the selloff didn't allow for that. It was the fourth down-week in a row for all three, according to Refintiv.
The trade spat overshadowed the annual Federal Reserve symposium at Jackson Hole, at which Fed Chairman Jerome Powell reaffirmed his pledge to act as 'appropriate' in the eye of tricky economic conditions.Powell acknowledged that the economy had grown more turbulent, adding that fitting uncertainty about trade into the central bank's framework poses a new challenge. Powell didn't comment on future interest rate cuts.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Friday wasn't the first time Trump has 'hereby' ordered somethingTrump has deployed the rather archaic adverb at least five other times in tweets or retweets since assuming office.
Leer más »
GOP fundraises off Greenland flap: 'Support President Trump and his efforts to help America grow!'Greenland isn't for sale, but Republican donors can get a T-shirt that suggests otherwise
Leer más »
President Trump Sings 'Baby Shark' & Gets Chased by King Jong Un in New Parody Video: WatchPresident Trump sings and dances to 'Baby Shark' in silly new parody video by YouTuber Maestro Ziikos.
Leer más »
Trump tweets: 'Who is our bigger enemy,' Fed Chairman Powell or Chinese President Xi?President Donald Trump on Friday again ripped into Federal Reserve Chairman Jerome Powell, comparing him to Chinese President Xi Jinping.
Leer más »
President Trump meeting with trade team at White House amid tweetstorm that rocked marketsStocks dropped after Donald Trump ordered that U.S. companies find alternatives to their operations in China.
Leer más »
'The Simpsons' Takes Aim at President Trump With 'West Side Story' Parody: WatchThe show posted a 90-second video on Wednesday (Aug. 21) spoofing Trump's Twitter war with U.S. representatives Ayanna Pressley, Rashida Tlaib Ilhan Omar and Alexandria Ocasio-Cortez.
Leer más »