讀後心得

The Dow Jones Industrial Average fell by 2,231.07 points on Friday, continuing a cumulative decline of over 1,500 points over two days, primarily affected by President Trump's tariff policies and China's retaliatory tariffs. The S&P 500 and Nasdaq indices also saw significant declines, dropping 5.97% and 5.82% respectively. Technology stocks performed particularly poorly, with companies like Apple and Nvidia experiencing sharp losses. Concerns about the global trade war and economic recession have intensified, resulting in a market value loss of $5 trillion over two days. Trump's unwavering policy stance has disappointed investors.

The Dow Jones Industrial Average dropped 2,231.07 points on Friday, marking the first time that there has been a consecutive decline of more than 1,500 points over two days following a decline of 1,679 points on Thursday.

The tariff policy of the U.S. president has impacted the global economy, leading mainland China to announce new taxes on U.S. goods, causing investors to worry that Trump will spark a global trade war, potentially resulting in economic recession. As a result, the U.S. stock market faced significant losses for two consecutive days.

• The Dow Jones Industrial Average fell 2,231.07 points or 5.5% on Friday, closing at 38,314.86 points, marking the first time there has been a consecutive decline of over 1,500 points.
• The S&P 500 Index dropped 4.84% on Thursday and fell another 5.97% on Friday, marking the largest decline since March 2020, dropping more than 17% from recent highs, with a market capitalization shrinking by $5 trillion in just two days.
• The Nasdaq Index fell nearly 6% on Thursday and dropped 5.82% on Friday, officially entering a bear market.
• The Philadelphia Semiconductor Index decreased by 7.6%.

Among the tech stocks, iPhone manufacturer Apple saw its stock plummet 7.29% on Friday, with a cumulative decline of 13% for the week. AI leader Nvidia dropped 7.36%, while electric vehicle manufacturer Tesla fell 10.42%. These three companies have substantial operations in China, making them particularly vulnerable to retaliatory tariffs.

Taiwan Semiconductor Manufacturing Company (TSMC) ADR also plummeted 6.72%, closing at $146.80. The equal tariff policy announced by Trump on Wednesday faced strong international opposition, with China's Ministry of Commerce stating on Friday that a 34% tariff would be imposed on all U.S. products, disappointing investors who had hoped for negotiations with Trump.

However, Trump's stance seems quite firm, as he stated on Friday via Truth Social that his "policies will never change."

At the close of trading on Friday, the Dow Jones Industrial Average was down 2,231.07 points or 5.5%, closing at 38,314.86 points; the Nasdaq Index fell 962.82 points or 5.82%, closing at 15,587.79 points; the S&P 500 Index also decreased by 322.44 points or 5.97%, closing at 5,074.08 points; and the Philadelphia Semiconductor Index declined by 296.03 points or 7.6%, ultimately closing at 3,597.66 points.