On Tuesday, Wall Street had a busy day. In the morning, the Dow Jones index went up by over 1,400 points. This made people excited about the stock market.
The Dow rose after news that there might be a deal about trade before new tariffs started. People felt hopeful because Treasury Secretary Scott Bessent said he might talk about tariffs. President Trump also said he was talking to leaders from South Korea and other countries.
But by the afternoon, the excitement faded. The White House announced a new 50% tax on China. This made people worry again. The Dow ended the day down 320 points at 37,645. It has lost almost 5,000 points since last Wednesday when Trump announced new tariffs. The S&P 500 and Nasdaq also dropped. The S&P finished below 5,000 for the first time in almost a year.
Experts say the market is trying to find a stable point. They believe there will be many ups and downs in the next days. The tariffs could hurt many companies because they rely on products from abroad.
Vocabulary List:
- Tariffs /ˈtærɪfs/ (noun): Taxes imposed by a government on imports or exports.
- Excitement /ɪkˈsaɪtmənt/ (noun): A feeling of great enthusiasm and eagerness.
- Stable /ˈsteɪbl/ (adjective): Not likely to change or fail; steady.
- Dropped /drÉ’pt/ (verb): Fell or decreased in amount or value.
- Hopeful /ˈhoʊpfəl/ (adjective): Feeling or inspiring optimism about a future event.
- Rely /rɪˈlaɪ/ (verb): To depend on with full trust or confidence.
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