T&G Market Recap: Stocks Plunge as Trump’s Tariffs Hit Canada, Mexico, and China 📉💥
Trade war fears resurface, with sectors feeling the heat from new tariffs. 🇺🇸⚖️
Markets React to Tariff Shock 💣
US stocks dropped sharply on Monday after President Trump confirmed the imposition of 25% tariffs on goods from Mexico and Canada, and 10% on China.
Nasdaq Composite dropped 2%
S&P 500 lost 1.6%
Dow Jones fell 1.2% (over 550 points)
The tariff announcement, effective Tuesday, stoked fears of a trade war reigniting, sending consumer discretionary and tech stocks into a tailspin. Companies like Nvidia (NVDA) and Apple (AAPL) were hit hard as investors feared supply chain disruptions. 🚗📉
Tariff Impact: Who’s Feeling the Pinch? 🔍
The tariffs will impact a wide range of products:
Automobiles 🚗 (especially imports from Mexico and Canada)
Tech 💻 (including chips and smartphones)
Agricultural products 🌽 (such as avocados, tomatoes, and beer)
Canada announced retaliatory 25% tariffs on $107 billion worth of US goods, while Mexico is expected to follow suit. This sets the stage for a global trade escalation. 🌍🔴
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