讀後心得

The Dow Jones Industrial Average fell 2231.07 points on Friday, marking two consecutive days of declines exceeding 1500 points, influenced by U.S. President Trump's tariff policies. The market is worried that a global trade war will lead to an economic recession. The Dow closed at 38314.86 points, while the S&P 500 index saw a cumulative decline of 17% this week, resulting in a $5 trillion loss in market value. Tech stocks were severely impacted, with significant drops in the prices of Apple, NVIDIA, and Tesla, the latter falling by 10.42%. China's new tariffs on U.S. products further intensified market unease, while Trump displayed a tough stance.

The Dow Jones Industrial Average fell by 2231.07 points on Friday, marking the first time in two consecutive days that it has dropped more than 1500 points, following a 1679-point drop on Thursday.

The U.S. President's tariff policy has impacted the global economy, and mainland China has also announced new tariffs on U.S. goods in retaliation, raising concerns among investors about a potential global trade war sparked by the U.S. and the possibility of a recession. Consequently, the U.S. stock market was hit hard for the second consecutive day.

• The Dow Jones Industrial Average dropped by 2231.07 points on Friday, a decrease of 5.5%, closing at 38314.86 points.
• The S&P 500 index fell by 4.84% on Thursday and again dropped by 5.97% on Friday, marking the largest decline since March 2020, down over 17% from recent highs, with a market value loss of 5 trillion dollars in just two days.
• The Nasdaq index declined nearly 6% and 5.82% on Thursday and Friday respectively, entering bear market territory.
• The Philadelphia Semiconductor Index saw a decline of 7.6%.

In Friday's trading, technology stocks performed poorly, with Apple's shares plummeting 7.29%, bringing this week's total decline to 13%; the AI leader NVIDIA fell 7.36%, while electric vehicle manufacturer Tesla dropped 10.42%. All three companies have significant business operations in mainland China, rendering them particularly vulnerable to the retaliatory tariffs from Beijing.

Taiwan Semiconductor Manufacturing Company's ADR also plummeted by 6.72% on Friday, closing at 146.80 dollars.

The reciprocal tariff policy announced by Trump on Wednesday faced strong opposition from the international community. The Ministry of Commerce of mainland China stated on Friday that it would impose a 34% tariff on all U.S. products, disappointing investors who had hoped for negotiations with Trump before retaliatory measures were taken. Trump posted on social media on Friday, indicating that his "policy will never change."

• The Dow Jones Industrial Average closed down 2231.07 points or 5.5%, eventually settling at 38314.86 points.
• The Nasdaq index fell by 962.82 points or 5.82%, closing at 15587.79 points.
• The S&P 500 index decreased by 322.44 points or 5.97%, closing at 5074.08 points.
• The Philadelphia Semiconductor Index declined by 296.03 points or 7.6%, eventually settling at 3597.66 points.