Wall Street stocks mixed as China imposes more levies on US goods

US stock key indices were mixed at the open on Wednesday after China in retaliation announced more duties on US goods.

At the opening bell, the Dow Jones Industrial Average fell 257.7 points, or 0.68%, to 37,387.91. The S&P 500 fell 17.5 points, or 0.35%, to 4,965.28​, while the Nasdaq Composite rose 27.5 points, or 0.18%, to 15,295.441.

Tariffs War

Retaliating to US President Donald Trump’s reciprocal tariffs, China’s finance ministry said that Beijing would impose additional tariffs of 84% on all American goods from April 10, up from the 34% announced earlier.

President Trump’s sweeping tariffs took effect earlier in the day.

Investors are concerned that the tariffs war would stoke inflation and hinder economic growth across the globe.

Bullion

Gold prices surged more than 2% on Wednesday, as US dollar declined and on safe-haven inflows amid escalating US-China trade tensions.

Spot gold was up 2.2% at $3,048.19 an ounce, as of 09:01 AM ET (1301 GMT). US gold futures rose 2.5% to $3,065.40.

Silver gained 1.4% to $30.26 an ounce, platinum slipped 0.6% to $915.59, and palladium fell 1.1% to $897.14.