New York stocks also plunged last evening amid tech sell-off
Hours after China raised import duties on a number of US exports in a tit-for-tat strategy, global stocks have tumbled today amid rising trade tensions.
Last evening, the Dow had plunged by over 700 points at one stage, before ending the day 458 points lower. Taking its cue from the Wall Street sentiment, the FTSE 100 today slipped around 0.7 per cent to 7,004.56.
Asian shares were also mostly in the red with Japan’s Topix index down 0.3 per cent, Xetra Dax 30 in Frankfurt fell 0.9 per cent, while the Hang Seng index in Hong Kong slipped 0.6 per cent.
As European markets were closed yesterday for Easter, analysts are expecting losses of almost 1 per cent on major indices this morning.
Last week, Trump had the technology stcoks into a spin, after sending a series of tweets criticising Amazon for avoiding the US taxes. As a result of Trump’s tweets, Amazon’s stocks plunged and the e-commerce giant suffered a loss of around $53bn in market value.
Only fools, or worse, are saying that our money losing Post Office makes money with Amazon. THEY LOSE A FORTUNE, and this will be changed. Also, our fully tax paying retailers are closing stores all over the country…not a level playing field!
— Donald J. Trump (@realDonaldTrump) April 2, 2018
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