Market Turmoil Following Tariff Announcement

In a dramatic turn of events, the Dow Jones Industrial Average closed down by a staggering 1,680 points, marking a 3.98% decline. This sharp drop came in the wake of President Donald Trump's announcement of new global reciprocal tariffs, sparking fears of an escalating trade war and unsettling investors worldwide.

Global Markets Feel the Impact

The ripple effects were felt across the globe, with major indices including the Nasdaq 100 and the S&P 500 also experiencing significant losses, dropping 5.41% and 4.84% respectively. The euro, however, saw a notable increase against the dollar, rising by 1.57% to $1.10235.

Trump's Optimistic Outlook

Despite the market's negative reaction, President Trump remains optimistic, predicting a market boom following the imposition of these tariffs. Meanwhile, in a separate development, Intel and TSMC have reportedly agreed to form a joint venture to operate Intel's chipmaking facilities, signaling potential shifts in the tech industry.