The People's Republic of China has just announced an additional 34% tariff on all imports from the USA, which will take effect on April 10. The retaliation is proportional to the tariff rate announced for China during "Liberation Day," although it is still lower than the total 54% imposed on China by Donald Trump.
Technology companies with significant exposure to China (in both production and sales markets) are seeing losses in after-hours trading. We are also observing an appreciation of the yuan and another spike in the volatility index.
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The announcement has halted today's depreciation of the yuan. xStation5
The VIX volatility index is currently breaking another high. xStation5
US100 futures are extending their declines. Mag7 companies are posting deep losses in after-hours trading. xStation5
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