Wall Street has collapsed due to the new escalation of the trade war

Trump announced that the United States will increase customs duties on Chinese imports worth $ 250 billion, from 25% to 30% as of October 1.

In addition, he said that another tariff increase on Chinese products for $ 300,000 million, expected by 10%, will be 15% from September 1. However, almost half of these products have been transferred to December 15th.

In this context, the three main market indices closed the session with heavy losses and They recorded their fourth consecutive week of decline.

The Dow Jones Industrial Average fell 623.34 points, or 2.4%, to 25,628.9 units, while the index The S & P500 lost 75.84 points, or 2.6%, to 2,847.11 units. The Nasdaq Composite sold 239.62 points, or 3%, to 7.751.77 units.

The last exchange in the long tariff dispute generated a large-scale liquidation that has hit with more force the action of highly exposed companies in China, such as chip makers and other technology companies.

Intel Corp and Apple, components of the Dow Jones, decreased by 3.9% and 4.6%, respectively.

The events eclipsed the much anticipated speech of Federal Reserve Chairman Jerome Powell, in which He reiterated the promise that the central bank would "do the right thing" to support the economy, but did not engage in a series of rapid rate cuts requested by Trump.

The US president responded by Twitter saying that "My only question is who is our biggest enemy, Jay Powel or President Xi?" referring to China's chief, Xi Jinping.

The escalation of trade tensions has become a major hurdle for the market in recent weeks.

On Friday, it marked the third decline of more than 2% of the S & P 500 index so far in August and the index has lost 5.8% over the past four weeks.

The 11 main sectors of the S & P 500 ended the day in red. Energy and technology suffered the highest percentage of losses, with declines of more than 3%.

At the same time, the Philadelphia semiconductor index, which is very sensitive to trade, dropped by 4.4%.