The slide on Wall Street continues with the basic stock market indicators of significant losses for a second consecutive day in the wake of the highest duties of the last hundred years imposed by Donald Trump on Wednesday.

In this environment, 5 trillion has disappeared in just two days. DOL from the US market, and since the day the US president was sworn in (January 17) they have wings a total of 9.6 trillion. dol.

UBS estimates that the duties are higher than expected, have not been invoiced by the markets, and can send the shares to a bear market and psychology to the tartar, although valuations, expectations and flows are increased.

They are cracking the markers

Completely ignoring the good news from the economy announced today on the other side of the Atlantic, and in particular the fact that jobs increased in March more than estimates The basic stock market markers are in free fall.

“In a normal environment, today’s job announcements would be a positive news. But what we live in is not a normal environment,” he said Ronald templeLazzard’s head strategy. With the trade war escalating investors ignore key economic indicators such as unemployment. Instead, they focus on the forecasts of a significantly higher inflation and higher unemployment, as tariffs lead to price increases and on the other hand companies will try to reduce costs by reducing their staff, “Temple added.

The Dow Jones industrial index fell 5.4% as it loses over 2,000 points. The S&P 500 loses 5.8%, while the Nasdaq technological fell 5.5%.

Bank Selloff

While fears of recession drag markets, from the big losers – and not only in America, but globally – are bank shares.

The banking selloff was intensified by the Chinese Ministry of Finance’s announcement that it imposes 34% duties on all imports of goods from the US, starting on April 10, that is, corresponding to the recipients -according to Trump– Duties imposed by the US on the world’s second -largest economy yesterday.

In this climate, the US S&P 500 Banks Index is falling 6%, expanding the losses it recorded at Thursday’s meeting. The shares of Citigroup and Bank of America record a decline that exceeds 6%. The share of the largest US bank, JP Morgan Chase, fell 6%, while Goldman Sachs and Morgan Stanley are losses of 6.3% and 7.3% respectively.