(4 Apr 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
Frankfurt, Germany – 4 April 2025
1. Trading at Frankfurt Stock Exchange
2. Screen showing DAX index
3. SOUNDBITE (German) Tim Oechsner, capital markets expert: ++STARTS ON SHOT 1 AND PARTIALLY OVERLAID BY SHOT 4++
"A black Friday on the stock markets here in Frankfurt, with the DAX down 5% at times. Behind this are the countermeasures taken by China, also 34% tariffs on US products, after the US introduced 34% tariffs on Chinese products. The DAX already started very, very weak this morning, down 2.5%, and has now reached -5% in the meantime. Uncertainty is back on the stock market. In principle, since Donald Trump took office, there is high volatility on the stock market. At times, there have been sharp rises. Currently, the erratic trade policy and tariffs are causing the stock market to fall sharply. The uncertainty on the stock market will keep us busy for some time to come.”
4. Various of trading at Frankfurt Stock Exchange, stocks on screens
STORYLINE:
Stock markets worldwide are careening even lower Friday after China matched President Donald Trump’s big raise in tariffs in an escalating trade war.
The intensified trade conflict between the US and China accelerated a slide in the German DAX index on Friday afternoon.
With a drop of more than 1,000 points, or a good 5%, to a daily low of 20,590 points, the leading German index extended its weekly decline to around 8%, according to reports of German news agency dpa.
Tim Oechsner, a capital markets expert at Steubing AG, said this was emblematic of the current "high volatility".
France’s CAC 40 dropped 4.6% and Japan’s Nikkei 225 fell 2.8%.
Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.
The S&P 500 was down 3.8% in midday trading, after earlier dropping more than 5%, following its worst day since COVID wrecked the global economy in 2020.
The Dow Jones Industrial Average was down 1,349 points, or 3.3%, as of 11:30 a.m. Eastern time, and the Nasdaq composite was 3.8% lower.
So far there are few, if any, winners in financial markets from the trade war.
European stocks saw some of the day’s biggest losses, with indexes sinking roughly 4%.
The price of crude oil tumbled to its lowest level since 2021. Other basic building blocks for economic growth, such as copper, also saw prices slide on worries the trade war will weaken the global economy.
China’s response to U.S. tariffs caused an immediate acceleration of losses in markets worldwide.
The Commerce Ministry in Beijing said it would respond to the 34% tariffs imposed by the U.S. on imports from China by imposing a 34% tariff on imports of all U.S. products beginning April 10.
The United States and China are the world’s two largest economies.
AP video shot by Daniel Niemann
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