Trump announces additional 10% tariff on $300 billion worth of Chinese imports. Defensive sectors rise sharply as flight-to-safety dominates markets. Financials lose more than 2% amid sharp drop seen in T-bond yields. Major equity indexes in the United States made a sharp U-turn in the last hour after US President Donald Trump announced that they will start imposing a 10% tariff on the remaining Chinese imports worth $300 billion starting September 1 and caused investors to move away from risk-sensitive stocks. As of writing, the Dow Jones Industrial Average was down 0.75% on the day while the S&P 500 and the Nasdaq Composite, which gained as much as 1.3% today, were erasing 0.7% and 0.35%, respectively. Among the 11 major S&P 500 sectors, the rate-sensitive Financials Index loses 2.2% on the day amid the more-than-6% fall witnessed in the 10-year US Treasury bond yield. Additionally, crude oil suffers heavy losses on Trump’s announcement and the Energy Index is also down more than 2%. On the other hand, the defensive Utilites and the Real Estate indexes add 1.15% and 0.5%, respectively, to confirm the dismal market mood. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Oil technical analysis: WTI collapse below $55 barrel as Trump adds fuel to the trade war fire FX Street 4 years Trump announces additional 10% tariff on $300 billion worth of Chinese imports. Defensive sectors rise sharply as flight-to-safety dominates markets. Financials lose more than 2% amid sharp drop seen in T-bond yields. Major equity indexes in the United States made a sharp U-turn in the last hour after US President Donald Trump announced that they will start imposing a 10% tariff on the remaining Chinese imports worth $300 billion starting September 1 and caused investors to move away from risk-sensitive stocks. As of writing, the Dow Jones Industrial Average was down 0.75% on the day while the S&P 500… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.