The US shares suffered a strong blow on Friday due to mass sales after China’s announcement of retaliation for duties imposed by Donald Trump, further escalating the World Trade War.

The Dow Jones index sloped by 2,231 points, declining 5.5%. The index S&P 500 fell by 5.97%. The Nasdaq Composite technological index closed at 5.82%.

For the week, the S & P 500 fell 9.1%while Nasdaq fell 10%, recording their biggest weekly falls since March 2020.

Donald Trump’s attempt to overthrow the international commercial order imposing huge duties has led to losses of $ 5.4 trillion of US shares within two days, as China counterattacked with its own countermeasures, exacerbating fears.

The S&P 500 drew 6% on Friday, after a drop of 4.8% on the day before, losing a total of $ 5.38 trillion in stock market value, according to Financial Times, in the aftermath of the US president’s announcement on Wednesday.

The total weekly drop in Blue-Chip Index, by 9.1%, is the largest since the beginning of the pandemic five years ago.

Technological shares, including giants such as Apple and Amazon, declined significantly, leading Nasdaq composite to a fall of more than 20% of December high, formally ranking it in “Bear Market”. On the other side of the Atlantic, the European Stoxx 600 index declined 8.4%weekly, while the UK FTSE 100 fell 7%. The Asian MSCI index fell 4.5%.

The turmoil emphasizes how Trump’s plans for a universal duty of 10% and additional “reciprocal” duties in many countries have affected investor confidence and have rekindled fears of slowing down the world’s largest economy.