Inverse stocks inverse gains lower ends on pricing problems | April 8, 2024

The stock market rally, motivated by the optimism of progress on the tariff agreements with the American trade partners, lost steam on Tuesday afternoon, the three main indices ending all in the red.

The industrial average of Dow Jones fell by more than 300 points, relaxing the jump of 1,400 points to the opening bell. The composite S&P 500 and Nasdaq fell 1.5% and 2.1%, respectively.

The actions were higher earlier in the negotiation session after President Donald Trump said he had a call with South Korea, discussing the prices and other trade -related subjects.

“I just had a big call with the acting president of South Korea,” said Trump in an article on Truth Social. “We have talked about their excess enormous and unbearable, their prices, their shipbuilding, their large -scale purchase of American LNG, their joint venture in an Alaska pipeline and the payment of important military protection that we offer to South Korea.”

However, the White House reported that new prices on Chinese imports take effect after the Chinese government has missed a deadline to raise its reprisal prices that have been imposed in response to Trump prices.

The white house’s press secretary Karoline Leavitt said on Tuesday that because China refused to lift its reprisal rate, the president’s additional 50% price was deducted in addition to prices previously imposed by 20% and 34%.

She added that the prices had taken vigor at noon on Tuesday, with the collection of prices which should start on Wednesday. Leavitt said that American business partners should come to the administration with agreements to improve commercial conditions.

“The president’s message was simple and coherent from the start to the countries of the world – we bring your best offers and he will listen to,” Leavitt said during a White House press briefing on Tuesday. “Transactions will only be concluded if they benefit American workers and attack the paralyzing trade deficits in our country.”

Tuesday losses follow three previous sessions of actions negotiated in the red which were launched by Trump’s pricing policy which was deployed last week.

The actions were seen on Monday, the main indices mixed with the fence bell. The DOW dropped by 349.26 points, or 0.91%, while the S&P 500 slipped 0.23%. The NASDAQ composite has become positive towards the end of the negotiation session, ending 0.1%.