The ongoing trade war between the US and China has effectively put the US stock market through a rollercoaster’s worth of dips and spikes over the past week.
On April 4, the S&P 500 dropped by 6 per cent, before spiking back up by 9.52 per cent on April 9 after President Trump authorized a 90-day pause on the majority of import taxes and lowered the reciprocal tariff rate to 10 per cent, effective immediately. That rate does not extend to China, however, which now faces tariffs of at least 145 per cent.
While Wall Street breathed a sigh of relief, with the markets, for the time being, rallying, investors are not entirely reassured about the economy’s future.
