(4 Apr 2025)
RESTRICTION SUMMARY:
ASSOCIATED PRESS
New York – 4 April 2025
1. STILL: Traders work in their booth on the floor of the New York Stock Exchange
2. STILL: Traders Jonathan Muller, left, and Michael Capolino work on the floor of the New York Stock Exchange
3. STILL: Specialist Michael Pistillo works on the floor of the New York Stock Exchange
4. STILL: Trader Michael Conlon works on the floor of the New York Stock Exchange
5. STILL: Trader Peter Mancuso works on the floor of the New York Stock Exchange
6. STILL: Trader Anthony Carannante works on the floor of the New York Stock Exchange
7. STILL: Trader Christopher Lagana works on the floor of the New York Stock Exchange
8. STILL: Trader John Romolo works on the floor of the New York Stock Exchange
9. Trader Edward McCarthy works on the floor of the New York Stock Exchange
STORYLINE:
U.S. companies were getting hammered again in the stock market Friday after China matched President Donald Trump’s tariffs in what is a rapidly escalating trade war.
Few sectors were spared in trading Friday, a day after U.S. companies lost $2 trillion in value and finished with their biggest one-day drop since COVID-19 flattened the global economy five years ago.
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.
Companies who sell their goods to China were hit hard on Friday, including those in aerospace, agriculture and heavy equipment.
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