On Thursday, Wall Street stocks fell lower after recording the same decline yesterday.
The factor that caused the decline in all three major indexes was the tariffs imposed by United States President (US), Donald Trump, which are becoming increasingly widespread and uncontrolled.
Yesterday, news broke that President Trump signed an executive order imposing tariffs on imported goods from China as high as 245%.
However, the White House again clarified the confusion by stating that the 245% amount was an addition to the 100% tariff during the Joe Biden administration and the latest 145% from Trump.
The Dow Jones Index fell 1.73%, the S&P 500 fell 2.24% while the technology-focused Nasdaq fell 3.07%.
Furthermore, Federal Reserve Chairman Jerome Powell in his speech early this morning stated that market uncertainty makes inflation difficult to predict and economic growth slows.
However, he said the central bank will wait for the latest economic data before changing monetary policy.
This situation has made investors increasingly worried about the risk of inflation rising due to Trump's trade tariffs.
Overall, Trump's tariffs have sparked concerns about the development of the US economy, so that US trade volume has sunk further to $16.08 billion, below the average of $18 billion.
