"With the 125% tariff on China, the 10% blanket tariff, the average tariff actually went up yesterday with the raise on China," Jeremy Siegel said.
The S&P 500 dropped 3.5% on Thursday, April 10, 2025, with the strong rally for stocks in the previous session running out of steam amid escalating trade tensions with China.
The S&P 500, and the Dow Jones Industrial Average sold off 3.46% and 2.5%, respectively Thursday.
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A number of stocks fell in the afternoon session after stocks gave back some of the gains from the previous day as the White House clarified the tariffs on imports from China would add up to 145%, while the baseline 10% tariffs remained in place for most countries. This reminded markets that the global trade environment remained volatile, limiting the potential for sustained gains.
A number of stocks fell in the afternoon session after stocks gave back some of the gains from the previous day as the White House clarified the tariffs on imports from China would add up to 145%, while the baseline 10% tariffs remained in place for all countries. This reminded markets that the global trade environment remained volatile, limiting the potential for sustained gains.
Stocks sank and demand for 'safe-haven' assets exploded - gold leaped 3% to a new high and the Swiss franc had one of its best days ever. Maybe U.S. President Donald Trump's tariff truce on Wednesday wasn't as conciliatory as it first seemed. Global investors hunker down for volatility even astariff pause is welcomed 3.
Stock markets plunged again on Thursday as the White House confirmed China will be hit with 145 per cent tariffs.
So, what happens now that President Donald Trump has art-of-the-dealed his way out of his own centerpiece economic initiative because it nearly broke financial markets?
A number of stocks fell in the afternoon session after stocks gave back some of the gains from the previous day as the White House clarified the tariffs on imports from China would add up to 145%, while the baseline 10% tariffs remained in place for all countries. This reminded markets that the global trade environment remained volatile, limiting the potential for sustained gains.