U.S. Stocks Tumble, Apple Hit Hard as Trump Threatens 104% Tariffs on China, Igniting New Trade War Fears

U.S. Stocks Tumble, Apple Hit Hard as Trump Threatens 104% Tariffs on China, Igniting New Trade War Fears

U.S. stock markets continued their decline for a third consecutive day after former President Donald Trump threatened to raise tariffs on Chinese imports by an additional 50%, bringing the total tariff rate to a staggering 104% — unless China reverses its retaliatory tax plans by April 8, 2025.

📉 The Dow Jones Industrial Average closed Monday at 37,965.60, down 349.26 points or 0.91%, after falling over 1,700 points intraday before partially recovering.
📉 The S&P 500 dropped 0.23% to 5,062.25, briefly dipping into bear market territory during the session.
📈 The Nasdaq Composite ended slightly higher, up 0.10% to 15,603.26, boosted by gains in tech giants like Nvidia and Palantir.

🗯️ Trump posted on Truth Social:
“If China doesn’t cancel the 34% retaliatory tariffs by tomorrow, the U.S. will impose an additional 50% tariff on Chinese goods and cancel all planned negotiations.”
Global investors responded by dumping risk assets, leading to extreme market volatility. Trading volume hit a record high in at least 18 years, surpassing 29 billion shares traded.

Apple Inc. was among the hardest-hit companies, with shares falling 3.7% in one day. The company has lost over $640 billion in market value over the past three sessions amid growing concerns about tariffs on China-made products — a key manufacturing hub for Apple.

The White House dismissed rumors of any delay or suspension of the new tariffs, confirming they will take effect as scheduled on April 9.

Meanwhile, China is preparing countermeasures, and other countries are also weighing responses, fueling fears of a renewed global trade war that could destabilize international markets.