Traders are working at the New York Stock Exchange (NYSE) in the United States. /Courtesy of Yonhap News Agency

As the tariff war between the U.S. and China intensifies, the New York Stock Exchange started the last trading day of the second week of April with a slight downturn. The U.S. and China are engaging in a 'chicken game' by exchanging tariffs, while the market is trying to stabilize and build resilience against tariffs.

On the 11th at 10:35 a.m. local time, the Dow Jones Industrial Average on the New York Stock Exchange recorded 39,475.81, down 0.30% from the previous session, while the S&P 500 index fell by 0.13% to 5,261.02, and the Nasdaq index decreased by 0.12% to 16,367.28. The volatility index (VIX) rose by 6.73% to 43.45. The three major indices experienced a pullback of 2-4% the previous day, resulting in profit-taking sales.

The Producer Price Index (PPI) for March in the U.S. fell by 0.4%, falling short of market expectations. In the earnings reports from the three major banks, JPMorgan Chase, Morgan Stanley, and Wells Fargo all reported results that exceeded expectations, but the stock prices were not significantly impacted. JPMorgan Chase's stock rose by over 2%, Morgan Stanley declined slightly, and Wells Fargo dropped by more than 2%.

European stocks showed mixed results, with the pan-European index STOXX 600 rising by 0.08% and the UK FTSE index up by 0.83%, while the German DAX index fell by 0.74%. International oil prices showed an upward trend, with West Texas Intermediate (WTI) trading at $60.19 per barrel and Brent crude at $63.45 per BARREL.

Meanwhile, Neel Kashkari, president of the Minneapolis Federal Reserve Bank, assessed that the current stress level in the financial system is lower than during the COVID-19 crisis and noted that the market is adapting well.