debut: 2/16/17
38,541 runs
Stock futures slide after Trump announces tariffs
US stock market futures plunged Sunday, one day after President Donald Trump announced 25% tariffs on Canada and Mexico and 10% tariffs on China set to go into effect on Tuesday.
Dow futures were down 1.4%, or more than 600 points, while S&P 500 futures dropped 1.9%. The futures traded for the tech-heavy Nasdaq Composite were down 2.4% as of 6:36 p.m. ET. Bitcoin was also down 3.5% over the last 24 hours.
Hours after the Trump administration announced the tariffs, Mexican President Claudia Sheinbaum said her country will impose retaliatory tariffs, and Canadian Prime Minister Justin Trudeau announced “far-reaching” retaliatory levies. China’s Commerce Ministry said it will file a complaint with the World Trade Organization and “take corresponding countermeasures,” without elaborating.Economists warned that American families may bear the burden of these tariffs — and Trump posted to his Truth Social account that Americans could face “some pain.” The tariffs will make groceries more expensive because Mexico and Canada are the main sources of America’s imported agricultural goods. Gas, steel and cars are among other goods expected to be more expensive for American consumers.
CNN
US stock market futures plunged Sunday, one day after President Donald Trump announced 25% tariffs on Canada and Mexico and 10% tariffs on China set to go into effect on Tuesday.
Dow futures were down 1.4%, or more than 600 points, while S&P 500 futures dropped 1.9%. The futures traded for the tech-heavy Nasdaq Composite were down 2.4% as of 6:36 p.m. ET. Bitcoin was also down 3.5% over the last 24 hours.
Hours after the Trump administration announced the tariffs, Mexican President Claudia Sheinbaum said her country will impose retaliatory tariffs, and Canadian Prime Minister Justin Trudeau announced “far-reaching” retaliatory levies. China’s Commerce Ministry said it will file a complaint with the World Trade Organization and “take corresponding countermeasures,” without elaborating.Economists warned that American families may bear the burden of these tariffs — and Trump posted to his Truth Social account that Americans could face “some pain.” The tariffs will make groceries more expensive because Mexico and Canada are the main sources of America’s imported agricultural goods. Gas, steel and cars are among other goods expected to be more expensive for American consumers.
CNN
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