Major US stock exchanges continued to crash on Thursday, cutting gains from yesterday's historic surge that followed President Donald Trump's announcement of a 90-day suspension on global reciprocal tariffs, excluding China.
Earlier, White House officials confirmed that the aggregate tariff rate imposed on Beijing had reached 145%. This figure combines the newly implemented 125% duty on goods with the existing 20% rate imposed due to the fentanyl crisis.
The Dow Jones slid 1,402 points or 3.44% at 11:50 am ET. A minute later, the Nasdaq 100 plunged 4.61% or 882 points and the S&P 500 nosedived 4.07%. The euro traded 2.49% above the dollar at 11:48 am ET, changing hands for 1.12216.
