U.S. stocks on Friday extended their declines following U.S. President Donald Trump's reciprocal tariffs, with all the three major indices ending with a drop of more than 5 percent.
The Dow Jones Industrial Average fell by 2,231.07 points, or 5.50 percent, to 38,314.86. The S and P 500 sank 322.44 points, or 5.97 percent, to 5,074.08. The Nasdaq Composite Index shed 962.82 points, or 5.82 percent, to 15,587.79.
All of the 11 primary S and P 500 sectors ended in red, with energy and financials leading the laggards by losing 8.70 percent and 7.39 percent, respectively. Real estate posted the weakest decline, down 2.51 percent.
U.S. stocks continue to close lower amid tariff tumult
U.S. stocks continue to close lower amid tariff tumult
China's consumer price index (CPI), a main gauge of inflation, recorded a narrower year-on-year decline in March, while the core CPI, which excludes food and energy, experienced a notable rebound, the National Bureau of Statistics (NBS) announced Thursday.
Statistics issued by the NBS showed that in March, CPI fell by 0.4 percent month-on-month and decreased by 0.1 percent compared to the same period last year, with a significant narrowing of the decline.
This rebound in the core CPI reflects the emerging impact of policies aimed at stimulating consumer demand. Improved dynamics between supply and demand are driving positive price trends, signaling potential stabilization in the market. With warmer weather in March, fresh food products entered the market in abundance, ensuring a plentiful supply. Month-on-month, the prices of fresh vegetables, pork, eggs, and fruits all experienced declines.
As a result of fewer travelers during the tourism off-season, travel-related expenses have declined. Additionally, the continued drop in global oil prices has led to a noticeable month-on-month reduction in domestic gasoline costs.
Meanwhile, trade-in policies for consumer goods are starting to show results, contributing to a broader rise in the prices of industrial consumer goods. Items such as household appliances, gold jewelry, and clothing experienced monthly price increases that surpassed the decade-long average for the same period.
From a year-on-year perspective, the year-on-year decline in the CPI significantly narrowed. In particular, the core CPI, which excludes food and energy prices, saw a notable rebound with a 0.5 percent increase year-on-year.
"With the recovery of real estate market in some popular cities, prices for housing have also stabilized to some extent. Driven by policies aimed at boosting consumption, sales of key products such as smartphones, automobiles, and household appliances have been robust, and prices have recovered," said He Xiaoying, deputy head, analysis and prediction division, Price Monitoring Center, National Development and Reform Commission.
China’s core CPI picks up in March
