Economics

815 readers

58 users here now

founded 2 years ago

Stocks tumble after Trump says long-threatened tariffs are coming (www.nbcnews.com)

submitted 2 months ago by [email protected] to c/[email protected]

4 comments fedilink hide all child comments

Summary

U.S. stocks fell sharply after Trump confirmed 25% tariffs on Canada and Mexico would take effect, with additional tariffs on China and agricultural exports coming soon.

The Dow dropped 800 points, the S&P 500 lost 2.1%, and the Nasdaq fell 3%, partly due to Nvidia’s decline. Economic data showed rising supplier costs, adding to concerns.

The stock sell-off erased early-year gains, and retailers warned of potential business impacts.

Some companies, like Chipotle, plan to absorb higher costs, while others expect price hikes.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 3 points 2 months ago

I'd vote for Log for President.