Tariff Tango: US Stocks Wobble as Trump's China Tariffs Loom

Market Reacts to Potential 104% Tariffs on Chinese Goods, Prompting a Short-Lived Rally and Subsequent Dip.

US stocks experienced a downturn, as a brief rally was swiftly reversed. Investor anxiety resurfaced as the next round of tariffs, potentially totaling 104%, against China, ordered by the former President Donald Trump, draws closer.

The Dow Jones Industrial Average dropped 320.01 points, or 0.84%, closing at 37,645.59. The Dow has accumulated a loss of over 4500 points in just four days, reflecting concerns about the proposed tariffs. Apple, the iPhone manufacturer, led the decline in the Dow, as it anticipates a significant increase in production costs due to the new tariffs on Chinese imports. Earlier in the day, the Dow had seen an increase of up to 3.9%.