Trump’s Tariff War Sparks Chaos on Wall Street
Fears of a potential economic downturn dubbed a “Trumpcession,” are growing as Wall Street grapples with uncertainty fueled by President Donald Trump’s trade policies.
On Wednesday, the U.S. administration’s 25% tariffs on steel and aluminum took full effect, targeting all trading partners without exemptions. This move quickly prompted retaliatory measures from Canada and the European Union (EU). In response, Trump escalated tensions by threatening a 200% tariff on European alcoholic beverages the following day.
Investor confidence has plummeted, leading to a notable decline in U.S. stocks, particularly among the “Magnificent 7” tech giants—Apple, Microsoft, Amazon, Alphabet (Google’s parent company), Meta, Nvidia, and Tesla. CNBC reported that these firms collectively lost $2.7 trillion in market value over the past three weeks, with Tesla alone experiencing a staggering 50% drop this year.
Meanwhile, major U.S. stock indices, including the Dow Jones, S&P 500, and Nasdaq, continue to struggle, marking several consecutive weeks of losses as economic uncertainty looms.
The Devastating Impact of Trump’s Foreign Aid Cuts
U.S. Soldiers Missing in Lithuania Peat Bog During Training
