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KQED Nightly Business Report July 14, 2024

It wasnt the highlyanticipated speech from fed chairman Jerome Powell that sparkedy to intense selling. Instead, it was a new record ou tariffs imposed by the chinese ndvernment on goods President Trumps response to hike more tariffs on chinese goods. It all served to escalate the trade waretween the worlds two largest economies. That clouds the outlook f theon y and it rattles wall street once again. Here are the closing numbers for this friday. The d industrials down 623 points to 25,628. Sdaq fell by239, and the s p fell 75. Seema mody walks you through this day from the new york stoc exchange. It was another dizzying day for the stock market. Equity futures initially rose oe encouraging cs from fed officials but just befor 8 00 a. M. Eastern, china announced retaliatory tariffs firing the latest salvo in the trade wars. At 10 00 a. M. Astern stocksli ed off their lows bri ....

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