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Trump’s ‘Illogical and Absurd’ Tariffs Trigger Broad Market Slump, Sending U.S. Media and Tech Stocks Even Lower
Trump's new tariffs triggered a broad stock market sell-off, pushing media and tech stocks lower amid new fears of trade wars and higher inflation.
President Trump’s sweeping and severe new tariffs on more than 180 countries prompted a sell-off in stock markets in the U.S. and abroad, raising investor alarm over looming trade wars and accelerating inflation as the levies threaten to increase prices for consumers. “The unveiling of new U.S. tariff terms has jolted markets, but the extreme nature of the proposed measures points to a high likelihood that these will ultimately prove short-lived,” Tom Lee, managing partner and head of research at Fundstrat Global Advisors, wrote in a note. Trump branded April 2 as “Liberation Day in America.” The president asserted during his unveiling of the new tariffs Wednesday at the White House that other countries have “ripped off” the United States with asymmetric levies for decades.
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