China's Retaliatory Tariff Hike Escalates Trade War, Gold Soars, Dollar Hits Two-Year Low - Global Markets Today While US Slept
Benzinga (Fri, 11-Apr 6:25 AM)
On Thursday, April 10, U.S. markets closed lower as renewed fears over President Trump’s escalating trade war with China erased much of the previous day’s historic rally.
The S&P 500 and Nasdaq had surged following a 90-day tariff reprieve, but investor uncertainty quickly returned. Meanwhile, inflation eased in March, nearing the Fed’s 2% target, though the central bank’s path forward remains uncertain amid ongoing trade tensions with both China and Europe.
In economic data, Consumer inflation slowed to 2.4% year-over-year, down from 2.8% in February and below expectations of 2.6%—marking the lowest reading since September 2024. On a monthly basis, the Consumer Price Index fell 0.1%, the first decline since May 2020.
Most S&P 500 sectors ended lower, led by sharp losses in energy, technology, and communication services. However, consumer staples outperformed, closing in positive territory.
The Dow Jones Industrial Average dropped 2.50% to 39,593.66, the S&P 500 fell 3.46% to 5,268.05, ...
