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Stocks on Wall Street decline after Trump imposes tariffs, but not as severe as originally anticipated at the opening bell


In a volatile day on Wall Street, U.S. stocks initially fell sharply on fears of a trade war after President Donald Trump announced tariffs on imports from Canada, Mexico, and China. However, losses were pared back after Mexico and Canada negotiated a one-month pause on the tariffs. The S&P 500 ended down 0.8%, the Dow Jones Industrial Average lost 0.3%, and the Nasdaq composite sank 1.2%. The fear is that tariffs could lead to higher prices for consumers, potentially driving up inflation and slowing global trade.

The uncertainty surrounding Trump’s trade policies caused fluctuations in the stock market, with some companies taking heavy losses. Investors sought refuge in long-term U.S. government bonds, leading to a drop in Treasury yields. The situation highlights the vulnerability of stocks considered expensive, particularly in sectors like AI where companies like Nvidia saw declines.

Trump’s tariff threats overshadowed other market-moving events, including upcoming profit reports from influential companies like Alphabet and Amazon. This comes as indexes in Europe and Asia also experienced declines. The unpredictability of the situation underscores the importance of ongoing trade negotiations and their impact on global markets. Investors will be closely watching for any updates on tariffs and their implications for the economy.

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Photo credit apnews.com

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