Natalie Sherman, reporting for BBC News in New York, shared that the stock market turmoil escalated on Friday due to China retaliating against tariffs imposed by US President Donald Trump. This raised concerns about a prolonged trade war and potential damage to the global economy.
In the US, all three major stock indexes plummeted more than 5%, with the S&P 500 experiencing a nearly 6% drop, marking the worst week for the US stock market since 2020. Similarly, the UK’s FTSE 100 saw a nearly 5% decline, the steepest fall in five years, while Asian markets also experienced drops. Exchanges in Germany and France faced similar declines.
Despite the market shock, Trump dismissed concerns, emphasizing the strength of the US labor market and urging his followers to “hang tough.” Since Trump announced new import taxes on goods from various countries, including key trading partners like China and the EU, the global stock market has incurred trillions in losses.
Analysts believe that these measures, which include significant tax increases, could lead to a contraction in trade and potentially push many countries into an economic recession. China responded by imposing import taxes on US goods, limiting exports of vital minerals, and adding American firms to its blacklist.
While some countries hope to negotiate deals, the EU trade commissioner emphasized the need for a “fresh approach” in trade relationships. The potential impact of Trump’s tariffs led to fears of a global economic recession, with JP Morgan raising the odds to 60%. Some investors downplayed the losses, attributing them to a necessary “reset” in global trade.
In light of the uncertainties, Federal Reserve Chairman Jerome Powell acknowledged the higher-than-expected tariffs, warning of slower growth and potential price increases. Small businesses like Jacobson Appliance in New Jersey are already feeling the effects, with owner Pat Muscaritolo considering closure after 40 years due to anticipated price hikes.
Despite the bleak outlook, housing-related firms and clothing retailers like Nike showed resilience in the market, with hopes of lower mortgage rates and potential deals buoying their stocks. However, the overall market sentiment remained uncertain, with Apple shares plunging over 7% due to its reliance on Chinese manufacturing. Natalie Sherman Nilai pasar pembuat iPhone telah turun sekitar 15% sejak Rabu.
Indeks Dow Jones turun 5,5%, membuatnya turun 10% dari puncak Februari. Nasdaq turun 5,8%, menghapus sekitar seperlima nilainya sejak Desember, menempatkannya di wilayah “pasar beruang”. Di Inggris, indeks FTSE 100 ditutup 4,9% lebih rendah, penurunan terbesar dalam sehari sejak 27 Maret 2020. Di Eropa, CAC 40 Perancis turun 4,3% sementara di Jerman Dax turun hampir 5%. Sebelumnya, di Jepang, di mana perdana menteri menyebut situasi ini sebagai “krisis nasional”, Nikkei 225 turun lebih dari 2,7%. Brent crude, patokan harga minyak internasional, juga turun hampir 6%
Saat penjualan terus berlanjut, bahkan beberapa sekutu Gedung Putih mulai mengkritik langkah-langkah tersebut.
Dalam sebuah podcast yang didedikasikan untuk tarif, Senator Republik Ted Cruz dari Texas mengatakan langkah-langkah Trump dapat menghasilkan manfaat bagi AS, sambil memperingatkan “risiko besar”.
“Jika kita berada dalam skenario 30 hari dari sekarang, 60 hari dari sekarang, 90 hari dari sekarang, dengan tarif Amerika besar, dan tarif besar pada barang-barang Amerika di setiap negara di bumi, itu adalah hasil yang mengerikan,” katanya.
Di Kepulauan Falkland, sebuah kepulauan di Samudera Atlantik Selatan, Janet Robertson, manajer umum Consolidated Fishing Limited, sedang bertanya-tanya bagaimana pajak baru 42% pada ekspornya ke AS akan mempengaruhi penjualan toothfish.
“Saat ini, kami tidak membuat keputusan dramatis apa pun,” katanya.
Tapi, tambahnya, penangkapan ikan adalah “jauh lebih penting di Falkland”.
“Penjualan toothfish ke Amerika adalah bagian besar dari itu,” katanya.
“Kami bertanya-tanya di mana semuanya akan berakhir.”
Pelaporan disumbangkan oleh Tom Espiner, Nada Tawfik, Cai Pigliucci, dan Layanan Dunia BBC.