The American stock market was opened on Monday with sharp falls after President Donald Trump launched rates against Canada, China and Mexico this weekend.
The Nasdaq tumbled 1.86% or 401 points, which led the decreases of the three major American indexes. The industrial average of Dow Jones fell around 1.1%or around 489 points. The S&P 500 fell around 1.8% or 89.6 points.
Trump signed an executive order with 25% rates for import from Canada and Mexico on Saturday, while Chinese products get an extra rate of 10%. The import of Canadian energy is only 10%in the target.
The American tasks on all three countries are fully in force from Tuesday at 12:01 pm Est.
Officials in Canada and Mexico announced that they would take revenge by carrying out their own import duties on American goods.
The trade war influenced stock markets around the world.
The Benchmark FTSE 100 of the United Kingdom fell by 1.1% at 6.40 am Est, set for the worst day since 8 October, according to Reuters.
The Dax 40 index of Germany fell approximately 2% on Monday from Friday 21,802 record high, according to IG.
The Toronto Stock Exchange fell by approximately 2% or 500 points in early trade on Monday.
Taiwan’s Taiex market exchange fell by 4.4%. The Topix index of Japan fell no less than 2.3%and Korea’s Kospi fell no less than 2.4%.
Trump placed on the truth on the truth on Monday morning that he had spoken with Canadian Prime Minister Justin Trudeau and they would talk again at 3 p.m. He also raised new issues, such as the Limits of Canada on the American banks in the country.
“Canada does not even allow us to open or do business there. What is that about? Many such things, but it is also a drug war and hundreds of thousands of people died in the US of drugs flowing through the boundaries of Mexico and Canada, “said Trump.
The post -sharing markets around the world tumbled in response to Trump rates first appeared on freight wolves.