Have you seen what happened on Friday?
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This article is originally referred from AvaTrade News.
On Friday, the US Stock Markets lost significant ground.
The S&P 500 fell by 2.19%, the Dow Industrials plunged 2.34%, and the Nasdaq traded 2.28% lower.
Will the US indices bounce back on bargain-hunter buying or will they drop further following the weekend’s events?
Why did this happen?
Last week, US President Donald Trump declared the US needs to levy another $100 billion in tariffs against Chinese goods and services in order to lower the US trade deficit with China.
Investors sold US stocks and indices on trade war worries, with losses led by the industrials and materials, which are particularly affected by tariffs.
Nonetheless, President Trump vowed friendship with Chinese counterpart Xi Jinping on Sunday despite their trade differences, and tweeted:
“China will take down its Trade Barriers because it is the right thing to do.”
How will the market react?
Original Source: AvaTrade News