Wall Street Reacts to Trump's Tariff Escalations
Wall Street saw declines on Friday amid President Trump's increased tariffs on Canadian imports. The Dow, S&P 500, and Nasdaq registered losses. As the trade tension escalates, investors anticipate the upcoming earnings season for insights. Levi Strauss & Co. exceeded revenue forecasts, while Meta Platforms faced challenges.
Wall Street indexes suffered losses this Friday as President Trump intensified his tariff measures against Canada, fueling uncertainty over the U.S. trade policy.
On Thursday, President Trump raised tariffs on Canadian imports to 35% from 25%, citing potential further increases if Canada retaliates. He also hinted at new tariffs on other nations.
The Dow fell by 263.99 points as investors brace for upcoming earnings reports and economic data releases. Meanwhile, Levi Strauss & Co. saw significant gains after outperforming revenue expectations, while Meta Platforms contends with EU regulatory challenges.
(With inputs from agencies.)
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