April 9 (UPI) — U.S. stock markets are unstable again Wednesday after the EU and China’s announcement of retaliatory tariffs on U.S. goods.
As of 10:50 a.m., the S&P 500 was up 0.4% at 4,962.73 after reaching as high as 5,037.17 at 10 a.m. By 11:10 a.m., it had moved upward again 0.11% to 4,988.14,
The Nasdaq Composite was up 0.93% at 15,409.40 at 11:09 a.m., a fall from the 15, 558.59 it had reached at 10:35 a.m.
As for the Dow Jones Industrial Average, it reached 37,625, up 0.055% at 11:05 a.m., following a drop to 37,361.44, or .75% at 11 a.m. that came after a crest of 37, 936. 48 at 10:05 a.m.
These fluctuations are likely a response to the EU’s announcement Tuesday of “trade countermeasures” inspired by President Donald Trump’s “Liberation Day” tariffs against them.
China also announced it will impose an 84% levy on U.S. goods starting Thursday after U.S. tariffs of 104% on Chinese imports launched Wednesday.
Trump expressed optimism on his Truth Social account Wednesday with a post that proclaimed, “This is a great time to buy,” in all capital letters and with three exclamation points.
