US stock markets declined significantly on Tuesday. At the close of trading in New York, the Dow was calculated at 42,521 points, a decrease of 1.6 percent compared to the previous trading day.
Minutes earlier, the broader S&P 500 was calculated at around 5,775 points, a 1.2 percent decline and the technology-based Nasdaq was calculated at around 20,360 points, a 0.4 percent decline.
The central theme at the markets was the tariffs imposed by US President Donald Trump on Canada and Mexico and the increase in tariffs on China. Observers warn of a “Trumpcession.” According to the Federal Reserve Bank of Atlanta, this is not unlikely: the regional bank had estimated a year-on-year growth of 2.9 percent in the US economy for the first quarter of 2025 just a week ago, but now expects a year-on-year contraction of 2.8 percent.
The European common currency was significantly stronger on Tuesday evening: one euro was worth 1.0612 US dollars, a 1.19 percent increase and one dollar was worth 0.9423 euros, accordingly.
The gold price was able to profit, with 2,917 US dollars being paid for one fine ounce in the evening, a 0.7 percent increase, equivalent to a price of 88.37 euros per gram.
Meanwhile, the oil price declined: a barrel of the North Sea Brent type cost around 22:00 German time on Tuesday evening, 71.07 US dollars, a decrease of 55 cents or 0.8 percent compared to the close of the previous trading day.