President Trump's new 25% tariffs on imports from Canada, Mexico, and increased tariffs on Chinese goods have caused significant turmoil in the US stock market. The Dow Jones Industrial Average fell nearly 800 points, erasing all gains since the election, while the S&P 500 and NASDAQ dropped around 2%. Hard-hit sectors included automakers, with General Motors and Ford losing over 4% and 3%, respectively, and technology, with NVIDIA stocks declining. Retailers like Best Buy and Target also saw their shares fall amid fears of higher import costs and consumer prices. In retaliation, China, Canada, and Mexico have announced their own tariffs, escalating global trade tensions. Economists warn of potential higher consumer prices and prolonged market volatility. Staying informed on these developments is essential.
