Trump's tariffs hit US stock market hard
US stock markets react painfully to Trump's tariffs (Illustrative photo: Getty Images)
The imposition of tariffs on imports by US President Donald Trump for most countries around the world has seriously shaken the stability of the US stock market, according to the Financial Times.
According to the publication, futures on US stock indices fell further as investors weighed the consequences of Donald Trump's reciprocal tariffs.
Contracts on the S&P 500 index dropped by more than 3%, while contracts on the technology index Nasdaq 100 fell by 4%.
At the same time, bonds rose, offsetting previous losses, while the yield on 10-year Treasury bonds fell by 0.07 percentage points to 4.13%.
However, following Trump's statement, markets sharply reversed course, ending the day in the red.
Trump’s Tariff War
US President Donald Trump has imposed reciprocal tariffs on imports from most countries worldwide.
Specifically, a 10% tariff has been introduced on goods imported from Ukraine.
Additionally, as of April 3, a 25% tariff has been applied to all foreign-assembled automobiles.
Trump has also declared a state of emergency to safeguard economic security, granting him broad authority over tariff policy.
