Market Impact
experienced its worst day since the , with the falling 4.8%, the dropping 1,679 points (4%), and the tumbled 6% due to 's tariff announcement.
The tariffs, starting at a minimum of 10% on imports and higher on goods from countries like and the , are expected to significantly impact U.S. economic growth and inflation.
Responses and Predictions
Analysts predict the tariffs could knock down economic growth by 2 percentage points and raise inflation close to 5%, marking levels unseen in roughly a century.
Despite the market turmoil, Trump expressed optimism about the economic strategy, comparing it to a significant operation, and hinted at possible interest rate cuts to support the economy.