Dow loses 724 points after Trump's tariff announcement

The Dow Jones industrial average has fallen 400 points today, chalking up to a loss of more than 1,100 points since US President Donald Trump threatened China with a trade war 2 days ago.

That fear rippled into Europe.

The S&P 500 and the tech-heavy Nasdaq Composite are also in retreat as investors nervously digested the trade volleys coming out of Washington and Beijing.

European stocks fell at the open, with Germany's DAX down 1.6%, the French CAC 40 1.5% lower and Britain's FTSE 100 0.8% lower.

The broad-based S&P 500 dropped 2.5% to end the day at 2 643.69, while the tech-rich Nasdaq Composite Index fell 2.4% to finish at 7 166.68. For the week, the Nasdaq fell -6.54%. Other health care stocks also sank.

The potential weakening of business conditions is what Wall Street fears.

The Dow Jones industrial average fell 92 points, or 0.4 percent, to 23,858.

"If the tariffs go ahead as planned, then we believe China will retaliate".

"We've been told for our entire careers that trade wars made the Great Depression worse". "This can turn ugly on a global scale very quickly".

Schwab analysts noted that China presented a "measured response" to the USA announcement, saying it would target 128 United States products, including ethanol, fresh fruit, pork, steel and wine.

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Adding to the image of the ascendance of the "America first" faction, Trump replaced White House National Security Adviser H.R. McMaster with John Bolton, a controversial foreign-affairs specialist whom the U.S. Senate declined to confirm as President George W. Bush's ambassador to the United Nations.

USA stocks fell sharply on Thursday, pressured by worries of a potential trade war and a decline in tech shares. A more complete list is due soon, to be followed by a 30-day comment period. Trump signed a presidential memorandum that will target the Chinese imports only after a consultation period.

China said the slides support its stance. "Trump is negotiating. He's pushing back on the Chinese, and the Chinese will push back".

The Bank of England left its leading interest rates unchanged, but two of the nine monetary policy committee members voted against that decision, which pointed to 'a slightly more hawkish tone, Accendo's van Dulken said.

USA equities were also under pressure on Thursday as the technology sector continued to pull back in the wake of Facebook's data leak scandal.

"You could see more pressure [on stocks] if the trade issue" grows, said Bruce McCain, chief investment strategist at Key Private Bank. That could change if it puts tariffs on products like electronics or appliances imported from China.

US stocks tumbled again on concerns that a trade war and higher borrowing rates could throttle global growth. China didn't specify how it will respond, but US crops like soybeans are likely to be in the crosshairs.

"The numbers may seem small at the outset considering the size of U.S".

Sales outside the US are especially important for technology companies. "If the USA imposes tariffs on China like that, I think there would be some damage on us in the long term as well". The exempted group also includes Canada, Mexico, Australia, Argentina, Brazil and South Korea.

A traditional "safe haven" from risk, the Japanese yen touched a 17-month high against the USA dollar in response to the jitters over trade. The dollar fell to 104.82 yen from 105.61 yen.

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