Following President Donald Trump’s announcement yesterday of sweeping new tariffs, including a universal 10% tariff on all imports.
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00:00Stocks opened sharply lower this morning following the president's announcement yesterday of sweeping new tariffs, including a universal 10% tariff on all imports.
00:09The White House announcement also included higher rates for specific countries like China, the EU and Japan, with global markets falling in response.
00:17The S&P 500 and Dow both dropped more than 3% at Thursday's open, and the tech-heavy Nasdaq declined 4.3%.
00:25Investors are concerned these tariffs could escalate global trade tensions, potentially leading to higher inflation and slowing economic growth.
00:33The technology, energy and consumer discretionary sectors led this morning's losses.