Trump tariff Lazzbath drags Nasdaq near Bear area

* Second day of market chaos since the announcement of Trump tariff * Indexes: S&P 500 5.10%, Nasdaq 5.04%, Dow 4.48% * Nasdaq falls 20% of all closing heights * Fed chairman Powell warns at the tariff impact on inflation by David French 4 April – Nasdaq to a braai area, as the US president, pressed, and the Nasda market on the US president, and the US president set sweeping rates drawn reactions from global governments, escalated a trade war and brought a fear of the recession. All three major benchmarks were lower by more than 4.5% in mid-afternoon, on track for their worst two-day declines since the Coronavirus pandemic during Trump’s first term. The slide of the Nasdaq Composite had it on track to confirm a bear market for the technical heavy index. The Dow Jones industrial average was on track to confirm a correction. Since late Wednesday, when Trump increased tariff barriers to their highest level in more than a century, S&P 500 businesses have lost more than $ 4 billion at the stock market value. The record of the record of two-day decline exceeded a two-day loss of $ 3.3 trillion in March 2020, according to Lseg data compiled by Reuters. Investors have dumped shares, for fear of the new US economic reality and also how US trading partners can repay by weakening their own trading barriers. The CBOE volatility index, or Wall Street’s fear gauge, has hit its highest level since August at 42.13 points. China’s finance ministry said it would impose extra rates of 34% on all US goods from April 10. Markets then dropped further over talks between the Prime Minister of Britain, Australia and Italy on how to respond to Trump’s tariff Salvo. “We are now in the wild west of a trade war,” says Mariam Adams, managing director of UBS Wealth Management. “Anything can happen, and this kind of uncertainty is torture for world markets.” At 02:18 ET, the Dow Jones Industrial Average dropped 1,812,68 points, or 4.48%, to 38,729,54, the S&P 500 dropped 275,80 points, or 5.10%, to 5,121,21 and the Nasdaq Compost, 833,35 points, or 5.04%, to 15,716,54. Earlier, investment bank JP Morgan said it predicts a 60% chance that the global economy will enter a recession by the end of the year, of 40% before. Federal Reserve chairman Jerome Powell spoke publicly since Trump’s tariff announcement. Powell emphasized that the unexpected solid rates can cause higher inflation and slower growth, which can bring the way for challenging decisions for US central bankers. Traders still have a more accommodating policy for Fed -Fed, with the pricing of money markets in cumulative rate cuts of 100 basis points by the end of 2025, compared to about 75 bps a week before. Safe-Haven purchase in the bond market sent the return on the ten-year measure of ten-year treasury notes to become a six-month low. It dropped slightly to 3.98% in the middle of the afternoon. This has dropped US bank shares further, with the sector under pressure worldwide, as the prospect of interest rate cuts of central banks and a hit to economic growth of rates would cause profitability. The S&P Banks index fell 6.6%. All the 11 S&P sectors were more than 2.8% lower, with energy the leading laggard for the second straight day, from 7.9%, as companies traced a 7.2% drop in US crude prices. The US list of Chinese businesses has dived, with JD.com and Alibaba and Baidu shedding more than 9% each. Companies with exposure to China have also generally fallen, with mega-hoods like Apple falling 6.4%. The Chipmakers index sank 7.3%, compiling the 9.9% decline the day before. The sector is particularly vulnerable to both China and US rates, as many sliders design their chips in the US, but manufacture them in China, which may hit them with a double levy of levies. This article was generated from an automated news agency feed without edits to text.