Spanish
Wall Street opened this Friday in the red after the president of U.S.A., Donald Trump, accused China of violating the trade agreement to lower the high tariffs imposed by Washington.
Ten minutes after the bell, the tech-heavy Nasdaq was down 0.59%, to 19,063 points; while the S&P 500 also retreated 0.39%, to 5,888 points, and the Dow Jones Industrial Average fell 0.25%, to stand at 42,108 points.According to the US president's post on Truth Social, thanks to this trade agreement between both countries, Beijing had been saved "from a very bad situation", although he did not specify the conditions in which China would have violated this agreement.
Both economic powers agreed to a truce in their tariff war two weeks ago, in which US tariffs on Chinese products were reduced from 145% to 30%, while Beijing reduced those imposed on Washington from 125% to 10%.
On the other hand, tariff uncertainty continues since a Court of Appeals lifted yesterday, Thursday, the block ordered the day before by another federal court on a good part of the tariffs imposed by Trump on his trading partners.
Faced with this blockage, the previous day the stock markets received with optimism the decision of the federal court, which considered that Trump was exceeding his powers.
Yesterday's measure, which reverses this decision, puts the ruling of the International Trade Court on hold "until further notice" - which halted this Wednesday the global tariffs announced on April 2nd and previous ones against Canada, Mexico and China - while the judges review the appeal motions filed by the Government.
At the beginning of the day, data from the Personal Consumption Expenditures (PCE) price index in the U.S. was also released, which closed April with a 2.1% year-on-year increase, a figure slightly lower than the 2.3% of March, according to the Bureau of Economic Statistics (BEA).
The new indicator fell below market expectations, in what is the first report of its kind to reflect economic results after the application of tariffs. For analysts, these figures could be another sign that although a boost in price increases is expected due to these policies, this inflationary impact is not yet reflected in concrete economic data.
Among the 30 Dow Jones stocks, the gains were led by Coca-Cola (0.66%), Walmart (0.57%) and McDonald's (0.47%), and among the biggest losses were Nike (-1.37%), Boeing (-1.36%) and Nvidia (-0.98%).
At this time, Texas oil was down 0.49%, to $60.64 a barrel.
