After a 12% rise yesterday, the US market is witnessing a 3% decline today on 10 April. The Dow Jones index is trading at 39,600 with a decline of 900 points or 2%.
At the same time, the S&P 500 index of the US market is trading at 5,303 with a decline of 150 points or 2.5%. The Nasdaq Composite index of technology stocks is down by 570 points or 3.5%. It is trading at 16,500.
Asian markets closed with gains today…
Due to a 90-day ban on Trump’s tariff policy, Asian markets also rose by more than 9% today. At the same time, the Indian market was closed today due to Mahavir Jayanti holiday.
.Japan’s Nikkei index closed at 34,609, up 2,894 points or 9.13%.
.Korea’s Kospi index closed at 2,445, up 151 points or 6.60%.
.Taiwan’s TAIEX index closed at 19,000, up 1608 points or 9.25%.
.The GIFT Nifty, traded on NSE’s international exchange, is up nearly 700 points.
.China’s Shanghai Composite Index has climbed 37 points or 1.16% to reach 3,223.
Biggest gain in US Nasdaq since 2001
US markets closed up 12% on April 9. The reason for this rise was President Donald Trump’s decision in which he postponed the reciprocal tariff on all countries except China for 90 days.
.The Dow Jones closed 2,962 points or 7.87% higher at 40,608, its biggest single-day gain since March 2020.
.The S&P 500 index rose 9.52% to 5,456.90, its biggest single-session rise since 2008.
.The Nasdaq Composite, an index of tech stocks, rose 12.16% to 17,124, its biggest gain since January 2001.
.About 30 billion shares were traded, making it the most traded day in Wall Street history.
The US market had gained momentum after 4 consecutive days of decline
On April 8, the US stock market closed in decline for the fourth consecutive trading day. The Dow Jones index fell 320 points or 0.84% ​​to 37,645. At the same time, the S&P 500 index of the US market closed at 4,982 with a fall of 79.48 points or 1.57%. The Nasdaq Composite index of technology shares fell by 335 points or 2.15%. It closed at 15,268.
The Dow Jones fell 10% in three consecutive trading days. The total decline of the Dow Jones in four trading days was more than 11%. However, the rise in a single day has almost covered this decline in the market.
Reason for instability in the market
On April 3, US President Trump imposed a tit for tat tariff across the world. He has announced a 26% tariff on India. 34% tariff will be imposed on China, 20% on the European Union, 25% on South Korea, 24% on Japan, 46% on Vietnam and 32% on Taiwan.
This move has started a tariff war. In response to America’s tariff, China announced a 34% retaliatory tariff on America. After China imposed tariff, America announced an additional 50% tariff. This increased the total tariff to 104%.
In response to this action of Trump, China decided that it will now impose a retaliatory tariff of 84%. On April 9, Trump once again increased the tariff on China to 125%, but postponed the tariff to be implemented on all other countries from April 9 for 90 days.
