A trader works on the floor of the New York Stock Exchange April 4, 2025, in New York. (Photo by TIMOTHY A. CLARY / AFP)
New York: The main stock indexes on the US Wall Street Stock Exchange suffered heavy losses amounting to billions of dollars on Friday at the close of the trading week, impacted by the tariffs imposed by US President Donald Trump.
The S&P 500 dropped by 322.44 points, equivalent to 5.97 percent, while the Nasdaq Composite Index lost 962.82 points or 5.82 percent of its value. The Dow Jones Industrial Average also fell by 2,231.07 points or 5.50 percent.
President Donald Trump announced last Wednesday the imposition of "reciprocal" tariffs on all U.S. imports from around, with a minimum rate of 10 percent.
The 10 percent tariffs on all U.S. imports are set to take effect Saturday, with higher tariffs scheduled to be imposed next Wednesday.
