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Trade Policy Reversal Sparks Volatility on Global Markets

Trade Policy Reversal Sparks Volatility on Global Markets

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US stocks experienced significant losses on Thursday, with the S&P 500 index down 3.5% and the Nasdaq dropping 4.3%. Trump's steep tariff hike on Chinese goods, increasing the rate to 145%, was seen as a major contributor to the market's decline.

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Donald Trump
Republican Party
1. They were getting a little bit yippy, a little bit afraid.
2. Deals are my art form. Other people paint beautifully or write poetry. I like making deals, preferably big deals. That's how I get my kicks.
3. The bond market is very tricky. I was watching it. But if you look at it now, it's beautiful.
4. I have authorised a 90 day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately.
5. We didn't have access to lawyers. We wrote it up from our hearts, right? It was written from the heart, and I think it was well written too.
6. Under the new circumstances, China stands ready to join hands with Australia and the international community to jointly respond to the changes of the world, resolutely uphold international equity and justice, defend the multilateral trading system, ensure the stability of global industrial and supply chains, and maintain an open and co-operative international environment.
Ted Cruz
Republican Party
1. To calm the stock market down, a few major deals quickly would really, really help.
2. What I'm urging is for the president to come and make major deals and make them quickly.
Dow Jones
1. I thought that people were jumping a little bit out of line. They were getting yippy, you know, they were getting a little bit yippy, a little bit afraid.
Lin Chia-Lung
1. Now that there's an additional 90 days, we can engage in deeper discussions on Taiwan-U.S. economic and trade cooperation.
Anthony Albanese
Australian Government
1. We speak for ourselves, and Australia's position is that free and fair trade is a good thing.
2. We engage with all countries, but we stand up for Australia's national interest and we stand on our own two feet.
William Lai Ching-Te
Democratic Progressive Party
1. For decades, our two economies have stood shoulder-to-shoulder in deterring communist expansionism.
Adam Schiff
Democratic Party
1. Who in the administration knew about Trump's latest tariff flip-flop ahead of time? Did anyone buy or sell stocks, and profit at the public's expense?
Alexandria Ocasio-Cortez
Democratic Party
1. Any member of Congress who purchased stocks in the last 48 hours should probably disclose that now.
2. It's time to ban insider trading in Congress.

Trade Policy Reversal Sparks Volatility on Global Markets

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