Trump and His ‘Little Disturbance’ From Tariffs - WSJ


President Trump's new tariffs caused a significant stock market downturn, the worst since the 2020 economic shutdown, despite his downplaying of the impact.
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President Trump said there would be “a little disturbance” from his tariffs, but how does he define little? The stock market Thursday suffered its worst day since the government shut down the economy in March 2020. Not to worry, the White House says tariffs will eventually be worth the pain. Feeling better?The S&P 500 fell 4.8% and the Nasdaq 6% in reaction to Mr. Trump’s Wednesday tariff announcement of the largest tariff increase in a century. The biggest market casualties were retailers and manufacturers such as Apple (-9.3%), Nike (-14.4%) and Gap (-20.3%). Oil prices, the U.S. dollar and the 10-year Treasury yield also fell, likely signaling slower growth expectations.

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