US stocks fall! 500 points shocked by the US-Europe trade war

Reporters reported that Today (2 Oct) the Dow Jones Index continuously collapses. Recently plummeted to nearly 500 points, with investors worried about a new trade war between the US and Europe. While trade negotiations with China have not been concluded. In addition, investors are still worried about the recession in the United States.

With time 22.45 According to Thai time, the Dow Jones Industrial Average stood at 26,007.00. Minus point 514.00 point or 1.94%

The World Trade Organization (WTO) today ruled in favor of the US demand for a 7.5 billion dollar import tax on Europe.

In this regard, the WTO Arbitration Committee agreed with President Donald's government. Trump on tariffs on imported products from Europe While stating that The governments of the United Kingdom, Germany, France, and Spain make illegal subsidies to Airbus.

The WTO also states that the European Union (EU) has refused to take steps to reduce the impact of Airbus subsidies. Or cancel the said measures Which has severely affected the interests of the United States By causing the sales of large US aircraft to fall significantly.

The US government began filing a complaint with the WTO in 2004 regarding the European government's unfair subsidies for the production of the Airbus A350 and A380.

According to a survey by the US Institute of Supply Management (ISM), the US manufacturing index plummeted to 47.8 in September, the lowest level since June 2009. And below analysts' expectations of 50.2 from 49.1 in August.

The index is still below 50, indicating a contraction in the US manufacturing sector. And is the contraction for the second month

The report states that The business sector is worried about the wartime trade between the US and China. Resulting in orders for exports to contract since July. While consumption New order Stock inventory for export and import. Shrink as well Because the business sector has decreased confidence

In addition, investors keep an eye on trade negotiations between the US and China. Which will take place this October 10-11 in Washington While Deputy Prime Minister Liu He Will be the leader of China's trade negotiations

President Donald Trump said earlier that The United States will be able to enter into trade agreements with China faster than expected. In addition, investors will keep an eye on the impact of the investigation to dismiss President Donald. Trump leaves the position.

Meanwhile, the market is keeping an eye on the speech of many Federal Reserve officials today. To find signs indicating economic conditions And inflation Including the direction of the US interest rate this year

As for the disclosure of US economic numbers today, Automatic Data Processing Inc. (ADP) and Moody's Analogs revealed that the employment of the private sector increased by 135,000 positions in September. . Higher than analysts had forecast at 125,000, but slowing from a 157,000 increase in August.

Employment in the US private sector increased by 135,000 positions in September. Considered the smallest increase since June Resulting in the average employment of private sector this year at 145,000 positions, down from 214,000 positions in the same period last year.

Analysts survey results indicate that On this friday The US Department of Labor will report 145,000 non-agricultural employment numbers in September. While the unemployment rate is stable at 3.7%

By last month The US Department of Labor reports that Non-farm payrolls rose just 130,000 in August. Lower than analysts expected at 150,000 positions, while the unemployment rate remained at 3.7%, in line with analysts' expectations.