Trump follows Dow drop with another round of retaliatory tariffs on China

The economy! What is it?
(Image credit: Drew Angerer/Getty Images)

President Trump's tweets have sent the stock market tumbling yet again.

After China announced increased tariffs on the U.S. and Trump tweeted a heated response, the Dow Jones Industrial Average immediately began falling and eventually closed down 623 points for the day. The S&P 500 also closed down 2.6 percent and the Nasdaq Composite dropped another 3 percent — just ahead of yet another tariff announcement by Trump.

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Trump's immediate reaction after China's announcement was to tweet "we don't need China and, frankly, would be far better off without them." He additionally "ordered" American companies "to immediately start looking for an alternative to China." Trump also lashed out at his own Federal Reserve chair after the central bank failed to guarantee lower interest rates, tweeting "my only question is, who is our bigger enemy, Jay Powell or Chairman Xi?"

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Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.