Market Turmoil as Tariff Decisions Loom

In a dramatic turn of events, the Dow Jones Industrial Average took a significant hit, dropping more than 260 points this Friday. The sudden decline came after the White House firmly denied circulating reports about a possible delay in implementing tariffs on Mexico and Canada until March 1.

During the daily press briefing, White House Press Secretary Karoline Leavitt clarified the administration's stance, stating, "The President will be implementing tomorrow a 25% tariff on Mexico, a 25% tariff on Canada, and a 10% tariff on China for the illegal fentanyl they have sourced." This announcement sent shockwaves through the market, leading to a 0.60% drop in the Dow Jones Industrial Average, equivalent to 263 points, at 1:38 pm ET. Meanwhile, the Nasdaq 100 saw a slight increase of 0.53%, and the S&P 500 remained virtually unchanged.