Tech, Bank Stocks Bear the Brunt as China Retaliates to Trump Tariffs

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Tech, Bank Stocks Bear the Brunt as China Retaliates to Trump Tariffs

^{Published on 2025-04-04 09:21:03 - Reuters}

GE Healthcare's stock slid 6.9% premarket, leading the losses in shares of medical equipment makers, after China also announced export controls on a rare-earth metal that is used in MRI scans. Shares of Detroit automakers Ford and General Motors were down about 3% and 3.6%, respectively.

The article discusses the impact of China's retaliatory tariffs on U.S. technology and banking stocks, following President Trump's imposition of tariffs on Chinese goods. As a result of China's response, major U.S. stock indices like the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite experienced significant declines. Specifically, technology companies such as Apple, Microsoft, and Intel saw their stock prices drop due to concerns over potential disruptions in their supply chains and reduced demand in the Chinese market. Similarly, major banks like JPMorgan Chase, Bank of America, and Citigroup also faced declines in their stock values, reflecting broader market anxieties about the escalating trade war between the U.S. and China and its potential to hinder global economic growth.

Read the Full Reuters Article at:
[ https://www.msn.com/en-gb/money/economy/tech-bank-stocks-bear-the-brunt-as-china-retaliates-to-trump-tariffs/ar-AA1Cipct ]

N@N

Tech, Bank Stocks Bear the Brunt as China Retaliates to Trump Tariffs