TAIPEI (TVBS News) — The United States announced sweeping new tariff rates for countries worldwide Friday morning (Aug. 1). Global stock markets tumbled as investors across continents grappled with escalating trade tensions. The announcement triggered widespread sell-offs across major exchanges, reflecting deep market concerns about potential economic ramifications.
American stock markets retreated Wednesday as trade uncertainty gripped Wall Street. The Dow Jones Industrial Average plummeted 330.3 points, closing at 44,130.98, while the S&P 500 Index fell 23.51 points to 6,339.39. The technology-heavy Nasdaq Composite Index declined 7.22 points to 21,122.45, demonstrating investor nervousness ahead of the tariff announcement.
The Philadelphia Semiconductor Index suffered the steepest decline, plunging 179.4 points to close at 5,607.92. This benchmark, which tracks major American-traded semiconductor companies, dropped 3.1 percent amid concerns about supply chain disruptions. The sharp decline highlights potential challenges facing Taiwan's crucial technology sector under the new trade measures.
European markets mirrored the global downturn, with several major indices declining more than one percent. Asian trading sessions continued the bearish trend Thursday morning (Aug. 1), as Japan's Nikkei 225 and South Korean exchanges opened significantly lower. The synchronized global sell-off underscored widespread investor anxiety about the trade policy implications.
