BREAKING: Stock market has sharp reaction after Trump threatens response to new Chinese tariffs

AUGUST 23, 2019

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U.S. stocks dropped sharply Friday after President Trump said he would respond to new tariffs from Beijing issued earlier that day and ordered American firms to look beyond China.

The Dow Jones Industrial Average fell more than 420 points, a 1.6 percent drop, after Trump tweeted that he “will be responding” to new Chinese tariffs on $75 billion in U.S. goods announced Friday. The Nasdaq composite fell 2 percent after Trump’s tweets, while the S&P 500 fell 1.7 percent.

The article goes on to state the following:

“We don’t need China and, frankly, would be far … better off without them. The vast amounts of money made and stolen by China from the United States, year after year, for decades, will and must STOP,” Trump tweeted Friday.

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