US, European stock markets tumble on Trump’s tariff move; Amazon & Apple shares face heavy selling
New Delhi [India], August 2 (ANI): US stock markets faced heavy selling pressure on Friday (local US time) after President Donald Trump implemented fresh reciprocal tariffs on 70 countries, including India.
The new tariffs have raised fears of rising inflation in the US, as imports will become more expensive and prices of goods sold in the country are expected to rise in the coming months.
The major US stock indices witnessed sharp declines. The Dow Jones Industrial Average fell by over 1.2 per cent to close at 43,588.58, down by 542.40 points.
