Wall Street on Thursday experienced another fall involving major stocks despite previously returning to the green on Wednesday.
The factor behind the fall of these three major indexes was the action of United States (US) President Donald Trump announcing a 90-day tariff suspension in most countries, but putting pressure on China with additional tariffs.
The S&P 500 index fell 3.5%, the Dow Jones fell 2.5% while the Nasdaq index, which focuses on the technology industry, plunged 4.3%.
The announcement of the 90-day tariff pause by Trump was implemented to put pressure on China, which responded by imposing an 84% tariff on American imported goods.
The Republic of China retaliated against the US because Trump increased tariffs by 145% on China.
This situation caused the US and China tariff war to continue without any resolution.
This development worried investors who pushed for initiatives to find new suppliers after the index fell.
Trump, at the latest cabinet meeting, stated that he wanted to end the trade war with China through constructive negotiations, but China may not be looking in the same direction.
