"Live Updates: U.S. Market Tumbles; Trump Says China Tariff Is at Least 145% The S&P 500 fell 4 percent by early afterno

[orleans]

https://www.nytimes.com/live/2025/04/10/business/trump-tariffs-stocks


16 min. ago
Live Updates: U.S. Market Tumbles; Trump Says China Tariff Is at Least 145%
The S&P 500 fell 4 percent by early afternoon, as investors assessed the worsening trade war with China. The White House clarified the total new tariffs on Chinese goods now stands at 145 percent.




pinned 41 minutes ago
Here’s the latest.
U.S. stocks tumbled about 4 percent in early afternoon trading on Thursday as investors assessed the worsening trade war with China, and President Trump clarified that he had raised tariffs on Chinese goods by a total of 145 percent since taking office.

There were other alarming signs on Thursday: In the government bond market, U.S. Treasuries started to sell off again, with the yield on 10-year Treasuries climbing to 4.37 percent, the highest since February. The technology-heavy Nasdaq Composite index dropped nearly 7 percent, with shares in Apple, Nvidia and other tech giants falling. And oil prices fell about 4 percent, with Brent crude, the international benchmark, trading below $63 a barrel.



24 min. ago
U.S. farmers recoil as the trade fight with China deepens.
Image
An aerial view showing a tractor on a farm.
The soybean industry is one of the sectors most concerned about tariff retaliation.Credit...Jim Vondruska/Reuters
After China unveiled steep retaliatory tariffs on American exports on Wednesday, Treasury Secretary Scott Bessent issued a sharp and somewhat surprising response: “So what?”

The question underscored the Trump administration’s argument that America has the upper hand in a trade war with China given how reliant its economy is on exports to the United States.

The United States buys far more goods from China than China buys from the United States. But Beijing’s decision to retaliate against President Trump’s punishing tariffs

27 min. ago
As the cabinet meeting breaks up, a reporter yells out a question about Democrats’ concerns about market manipulation on Wednesday when he urged people on social media to buy then later announced his pause in the tariffs. The president ignores it.



51 min. ago
“I don’t see anything unusual,” Treasury Secretary Scott Bessent said in response to a question about the markets on a day when indexes once again were down. He said the administration was going “through the queue” to broker trade deals with other countries, noting that would provide “great certainty” over the next 90 days.



1 hr ago
Officials at the central bank are keeping close tabs on recent gyrations in financial markets, especially the sell-off across U.S. government bonds that intensified on Thursday. Earlier in the day, Jeff Schmid, president of the Kansas City Fed, said the Fed was watching markets “by the minute” to “make sure that the transactions and liquidity keep flowing.” He added that the recent disruptions in Treasury markets this week had been “really instructive.” Beth Hammack, who is now president of the Cleveland Fed after working at Goldman Sachs for decades, described U.S. markets as “strained, but functioning” on Wednesday.


1 hr ago
The cabinet meeting has been going around the table, with officials praising President Trump lavishly for his actions. Jamieson Greer, Trump’s top trade official, suggested the new tariffs, which have been deeply controversial and rocked markets, are effective and working.


1 hr ago
Turmoil in the bond market prompts the Bank of England to make an unusual move.
The Bank of England ditched its plan to sell some of its holdings of long-term bonds next week, after U.S. Treasuries led a rout in the global government bond market.

Stock markets have taken a hit since President Trump announced steep tariffs on dozens of countries, but the turmoil also swept into the bond market this week. Yields on U.S. Treasuries, which move in the opposite direction to prices, jumped higher as investors sold the assets traditionally considered a haven in turbulent times.


1 hr ago
The drop in U.S. government bonds has caught many off guard because they are typically seen as the safest corner of the market during times of turmoil. That drop resumed on Thursday, and as my colleagues in Washington reported yesterday, it was the bond market selloff that caused Trump to back down from the latest rollout of tariffs.


1 hr ago
Senator Lisa Murkowski, Republican of Alaska, was on the Senate floor urging Congress to reassert authority over tariffs. Murkowski was the latest Republican to raise concerns about how much power the president has had to levy tariffs without input or oversight by Congress. She was part of a bipartisan group of senators who earlier this week introduced legislation to reassert the role of Congress to approve U.S. trade policy decisions from the White House.

[Norrrm]

1. And his cultists?

[progressoid]

2. That is so infuriatingly true.

[orleans]

3. perfectly depicted. nt

[Mountainguy]

4. Has he heard of diminishing returns?

Because I think at 145% he doesn't have any bullets left in the tariff gun. What difference is it going to make not if you make it elevendy-billion %?

[orleans]

5. elevendy-billion? (you sound like you listen to the stephanie miller show)

because they use the term elevendy billion all the time!

and i agree w/what you said btw

[Mountainguy]

6. No

But I say that a lot too, don't know where I picked it up