Tariff Tremors: Markets React to Trump's New Trade Measures

Stocks on Wall Street dipped while the dollar gained following President Trump's announcement of new tariffs on Canada, Mexico, and China. Amidst a week of volatile markets, traders analyzed potential impacts of the duties on economies, currencies, and investor sentiment.

Wall Street witnessed a downturn as President Donald Trump introduced tariffs affecting Canada, Mexico, and China, heightening an already volatile week for markets.

The Dow Jones dropped by 0.75%, the S&P 500 lost 0.5%, and the Nasdaq fell by 0.3%, reflecting investor concerns. The tech sector saw a marked dip, largely influenced by uncertainties around Chinese AI models and U.S. tech stocks.

Amidst these fluctuations, the U.S. dollar appreciated, overshadowing losses in the Canadian dollar and peso. Economists warned of potential inflationary impacts due to these tariffs, while Treasury yields surged post-announcement, signaling market jitters.

(With inputs from agencies.)