Wall Street Shakes: Trump's Tariff Threat Unleashes Stock Frenzy
A calm period on Wall Street ended abruptly when President Trump's tariff threat led to a significant stock market downturn. The S&P 500 fell 2.7%, its worst day since April. The market, already criticized for high valuations, reacted sharply amid growing economic tensions and investor uncertainties.
Wall Street saw a sharp decline on Friday as President Donald Trump threatened significant increases in tariffs on Chinese imports, leading to turmoil across U.S. stock markets.
The S&P 500 plunged 2.7%, marking its steepest drop since April. Meanwhile, the Dow Jones shed 878 points, and the Nasdaq plummeted 3.6% following Trump's comments, which came amid rising tension between the world's largest economies over trade and technology.
The announcement rattled investors, resulting in broad losses across major sectors. The unrest comes as criticism mounts that U.S. stock prices are inflated compared to actual corporate earnings, partly fueled by concerns reminiscent of the early 2000s tech bubble.
(With inputs from agencies.)
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