US Stock Market Plunges After Trump Imposes Tariffs on Many Countries
The United States (US) stock market plummeted on Monday (07/07) local time. According to Bloomberg, the S&P 500 fell -0.79%, the S&P 600 Smallcap dropped -1.78%, the Russell 1000 decreased -0.78%, Nasdaq Biotech fell -1.48%, Dow Jones declined -0.94%, NYSE Composite was down -0.87%, and the Nasdaq Composite dropped -0.92%.
This occurred after US President Donald Trump announced a series of tariffs on trading partner countries including Japan, South Korea, Africa, Indonesia, Malaysia, Kazakhstan, and Cambodia.
Meanwhile, shares of technology companies such as Apple (AAPL) fell 1.69%, Alibaba dropped 2.24%, Alphabet plummeted 1.53%, and Microsoft decreased 0.22%.
At the same time, the exchange rate of the rupiah and the Composite Stock Price Index (IHSG) weakened in this morning's trading on Tuesday (08/07). Meanwhile, the price of Antam gold actually rose as a result of this policy.
