How the global markets responded to Trump's tariff announcement [Yahoo! Finance]
New York Times Company (The) (NYT)
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Source: Yahoo! Finance
This plunge came after Trump's announcement on Wednesday of a 10% baseline tariff on all imports, along with specific taxes on about 60 countries. According to The New York Times , the market reactions indicate that the scale of tariffs announced on Wednesday was a surprise. Uncertainty around the tariffs levels, along with how long they will last, has made it difficult for experts and policymakers to conclude the potential impacts for consumers, businesses and the economy as a whole. “The numbers are shockingly high compared to what people were expecting and it is inexplicable in many ways. I think it's a disaster,” said Peter Tchir, head of macro strategy at Academy Securities, per The New York Times U.S. stocks plummeted when the markets opened on Thursday morning, with the S&P 500 falling 3.3%, the Dow Jones Industrial Average down 2.6% and Nasdaq dropping by 4.3%, according to NBC. Within the first few minutes of trading, these drops in stock wiped out trillions of dol
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