Dow Jones pares losses 1,000 pts, Nasdaq drops 4%

US indices ended Thursday in red, with the "Wall Street's "fear gauge" surpassing 50 points, after the White House confirmed that the cumulative tariff rate on China will effectively reach 145%.

The Dow Jones Industrial Average dropped 2.5%, or 1,014 points, to settle at 39,593 points.

The S&P 500 index plunged 3.45%, or 188 points, to 5,268 points, and Nasdaq Composite plummeted 4.3%, or 737 points, to close at 16,387 points.

As for European markets, the STOXX Europe 600 lost 3.7% to 487.2 points.

Meanwhile, the British FTSE index leapt 3% to 7,913 points, and the German DAX index leapt 4.55% to 20,562 points. The French CAC 40 index also rose 3.85% to 7,126 points.

The Nikkei index soared 9.15% to 34,609 points, and the broader Topix index surged 8.1% to 2,539 points.

Brent crude futures for June 2025 delivery dropped 3.3%, or $2.15, to $63.33 per barrel. The US West Texas Intermediate (WTI) crude futures for May delivery also fell 3.65%, or $2.28, to $60.07 per barrel.

Regarding gold, futures prices for June delivery were up 3.2%, or $98.1, to $3,177.5 per ounce, the highest ever level.