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Stocks Plummet After Trump Vows Retaliation: China's Latest Tariffs

Video credit: Wochit News
Published on August 23, 2019 - Duration: 00:34s

Stocks Plummet After Trump Vows Retaliation: China's Latest Tariffs

Stocks spiraled downward on Friday after President Trump tweeted the US would retaliate against China's latest round tariffs.

Markets began the day lower after China announced it planned to impose tariffs on $75 billion worth of US products before the open.

Those losses were pared prior to Trump's comments, after Federal Reserve Chairman Jerome Powell didn't rule out further rate cuts this year during his speech at the central bank's annual symposium.

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