Wall Street Experiences Sharp Decline Amid Tariff Concerns

On Friday, the U.S. stock market took a significant hit, with the Dow Jones Industrial Average falling by 200 points. This downturn came as fears over potential reciprocal tariffs were reignited, following comments from President Donald Trump. The President suggested that these tariffs could be implemented as early as today, echoing his campaign promises to enforce equal tariffs on imports from countries that tax American exports.

Market Impact

By 11:23 am ET, the Dow Jones had dropped by 0.45%, while the Nasdaq 100 and S&P 500 also saw declines, losing 0.77% and 0.52% respectively. The euro also felt the impact, trading 0.44% below the dollar at 11:24 am ET, with a rate of 1.03431.