The stock market sold off following President Trump’s announcement of a sweeping 10% baseline tariff on U.S. trading partners, according to CNBC. Investors were caught off guard by the scale of the policy, triggering fears of higher inflation, reduced consumer spending, and slower economic growth. Wells Fargo and J.P. Morgan economists warned of a potential U.S. recession and long-term inflationary pressures. Analysts said the sell-off was driven not only by tariff policy but also by elevated stock valuations that made the market more sensitive to negative news.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Stock markets sold off following President Trump's announcement of a sweeping 10% baseline tariff
00:06on U.S. trading partners, according to CNBC.
00:10Investors were caught off guard by the scale of the policy,
00:13triggering fears of higher inflation, reduced consumer spending, and slower economic growth.
00:18Wells Fargo and J.P. Morgan economists warned of a potential U.S. recession
00:21and long-term inflationary pressures.
00:24Analysts said the sell-off was driven not only by tariff policy,
00:27but also by elevated stock valuations to make the market more sensitive to negative news.
00:32For all things money, visit Benzinga.com slash GSTV.