BlockBeats News, April 11th. Despite the three major indexes bucking the trend to rise in the bleak April market on Wednesday, the Dow Jones Industrial Average (DJIA) plummeted 2.5% on Thursday, the S&P 500 Index (SPX) tumbled 3.5%, and the tech-heavy Nasdaq Composite Index (COMP) plunged 4.3%, sending the market sentiment into a sharp downturn.
David Kelly, Chief Global Strategist at J.P. Morgan Asset Management, stated in a phone interview, "The tariff shadow has not yet dispersed. Coupled with government spending cuts and a tightening immigration policy leading to a labor shortage, the market has realized that the economy is facing a comprehensive impact."
Kelly pointed out that if the current policies persist, the U.S. economy may face a recession later this year. He believes that for U.S. stocks to stabilize, at least "tariff policy stability" and an improvement in international trade relations are needed. (Jinse)
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