The US markets, after a relatively positive day on Wednesday, March 12, had another bad day, as the indices came down, crashing. The US markets had a breather on Wednesday, as the country had some positive reports to cheer for. The US reported a decline in its CPI or inflation rate for the month of February.
The inflation rate eased to 2.8 per cent, from the previous month’s 3.00 per cent. As a result of this development, the Nasdaq made gains of 1.22 per cent or 212.35 points. This took the overall value of the index to 17,648.45.
Dow Jones Industrial Average
Coming to the session on Thursday, the indices, once again, went back to the cocoon.
The Dow Jones Industrial Average, which was been on the decline for the past few trading sessions, further slumped by 1.30 per cent or 537.36 points, taking the overall value of the index to 40,813.57.
S&P 500
The S&P 500 index also had a bad day, as the index slumped as well.
Marking major cuts of 1.39 per cent or 77.78 points, the index slipped in value, dipping to 5,521.52 points.
Nasdaq Composite
The tech-heavy Nasdaq was the biggest losers of the day. The index which a path to recovery, crumbled on Thursday. The index closed the day in deep red on 17,303.01 points.
This came to pass after an overall decline of 1.96 per cent or 345.44 points by the end of the day.
World Of Tariffs
This slump came to pass after the trade war took an unrelenting tone, after the US trade partners, namely Canada and the EU, issued retaliatory tariffs. US and Donald Trump followed this up with yet another threat a tranche of a whopping 200 per cent tariff on European alcohol entering the US.
The big showdown is expected to transpire next month, when, as per Trump’s own words, many tariffs including ones against Canada, Mexico, along with the reciprocal tariff could come to pass.
