Market Turmoil as Tariff Fears Resurface

On Friday, the U.S. stock market experienced a significant downturn, with major indices turning red after a flat opening. The shift came amidst growing concerns over potential reciprocal tariffs, as indicated by U.S. President Donald Trump in a recent statement to Republican lawmakers.

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

Trump's Tariff Strategy Comes to the Fore

President Trump's campaign promise to impose reciprocal tariffs on countries that tax American exports is now moving closer to reality. His recent comments suggest that these tariffs could be implemented as early as today, reigniting fears of a trade war and its potential impact on the global economy.