Wall Street falls after Trump's threats against China

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Wall Street fell Friday during the session after new threats by Donald Trump against Beijing.

The main indices of the New York Stock Exchange, which had been on a roller coaster since the beginning of the session, between the announcement of new tariffs by China on US products and a speech by the President of the US Federal Reserve (Fed ), have clearly fallen in the red.

The Dow Jones fell by 1.30% to 25,911.27 points and the Nasdaq by 1.57% to 7,866.10 points around 15:30 GMT.

The US president has "ordered" American companies to find an alternative to production, in a series of tweets published on Friday.

"We do not need China and, honestly, we would be better off without it," the US president wrote.

"Our formidable US companies are being urged to immediately start looking for an alternative to China, including bringing the companies back to US and manufacturing their products in the US," said Trump.

The White House tenant said he would respond later in the day to the new Chinese tariffs on products imported from the United States that Beijing announced on Friday.

China intends to impose new tariffs on $ 75 billion of imports from the United States in two stages, on September 1 and December 15, in retaliation for the additional customs duties expected to be introduced soon Washington at the same time. dates on 300 billion dollars of Chinese products imported.

A few minutes before his attacks on Beijing, Donald Trump attacked Fed boss Jerome Powell and wondered if he was "a worse enemy" than Chinese President Jinping Xi.

Powell promised Friday to act to support the expansion of the US economy but warned that the Fed had no ready-to-use roadmap to deal with trade tensions.

Nasdaq



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