The Bureau of Labor Statistics reported that the U.S. economy added 228,000 jobs in March, with unemployment rising slightly to 4.2%.
China announced retaliatory tariffs of 34% on U.S. imports in response to the U.S. tariff plan. This action intensified concerns about a potential trade war.
The Dow Jones Industrial Average experienced a significant drop, nearing its August 2024 levels and falling almost 2,000 points in the past week. The S&P 500 and the Nasdaq Composite also declined.
Major U.S. companies, including Nike, Apple, and Amazon, saw their stocks decline. Foreign companies on the New York Stock Exchange, such as Toyota and Honda, also experienced losses.
Global markets across the board declined, with Japan's Nikkei 225 index, Europe's Stoxx 600, and South Korea's Kospi index all showing losses.