Wall Street Sees Red as Tariff Fears Intensify

On Friday, the major stock exchanges in the United States took a sharp downturn, erasing early gains and ending the session in the red. The shift came as concerns over potential reciprocal tariffs announced by US President Donald Trump reignited fears among investors.

According to reports from Reuters, President Trump informed Republican lawmakers that the US might impose reciprocal tariffs on imports as early as today. This move aligns with his campaign promise to respond in kind to any country that imposes tariffs on American exports.

Market Reaction

By 11:23 am ET, the Dow Jones Industrial Average had fallen by 0.45%, or 200 points. The Nasdaq 100 and the S&P 500 also experienced declines, dropping by 0.77% and 0.52%, respectively. Meanwhile, the euro dipped 0.44% against the dollar, trading at 1.03431 at 11:24 am ET.