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. 🌍🔴