Global markets fall! Dow futures tank 2% while China claps fresh rates on us; UK's FTSE tumbles 4% | Einsmark news

Global Markets Crash: Dow Jones Futures on Wednesday, April 9, placed more than 2 percent ahead of the US stock market when China announced its move to increase its additional rates to 84 percent. China announced on Wednesday that it would increase the additional rates on all goods imported from the United States to 84 percent, with effect from Thursday, April 10, in retaliation for US President Donald Trump’s 104 percent tariff announcement. “If the US insists on further increasing its economic and trade restrictions, China has the firm want and abundant means to take the necessary countermeasures and fight to the end,” China’s Ministry of Trade said in an official statement. Dow futures dropped more than 2 percent to 36,818.79 points after the announcement of China’s fresh rates, compared to 37,577.14 points before the development. Global Market Crash Global Markets also crashed on the additional tariff announcement on Wednesday, with the European markets taking a hit before the Wall Street Open, because investors fear that an increasing trade war between the US and China. UK’s FTSE 100 index crashed nearly 4 percent to 7,603.25 points at 12:44 p.m. (BST) after China’s announcement, compared to 7.910.53 points on the previous stock market. The DAX index in Germany has lost more than 4 percent. From 2:36 o’clock (Cedt) it traded by 19,453.56 points, compared to 20.280.26 points on the previous market. The US vs. China Tariff War of the United States Tariff War with China began when US President Donald Trump announced ‘reciprocal rates’ at nations, including China, on April 2 ‘Liberation Day’. China refuted on Friday, April 4, by imposing 34 percent extra rates on all US imports. This retaliation has encouraged global market investors, who went on a sales sport, which resulted in an accident in the stock market on Friday. President Donald Trump threatened China on Sunday, April 6, that if it did not roll back the additional rates of 34 percent on the Western nation, it would announce a new set of rates on all Chinese imports to the US. On Tuesday, April 8, the White House finally announced that it had imposed an additional 50 percent rate on China, which produced the total rates up to 104 percent. White House press secretary Karoline Leavitt said: “It was a mistake for China to retaliate. If America is beaten, he will hit harder. Therefore, there will be 104 percent rates on China … If China reaches out to make an agreement, he will be incredibly gracious.” Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, and not of currency. We advise investors to check with certified experts before making investment decisions.