Introduction
U.S. stocks experienced a downturn on Wednesday as investors braced for President Trump's anticipated tariff announcement, which he referred to as 'Liberation Day'.
Context
Trump's tariff promises are included in his 'Liberation Day' initiative, aimed at rectifying years of perceived unfair trade practices.
Developments
In early trading, the Dow Jones Industrial Average dropped by
350 points. Concerns about the ambiguity surrounding the tariff details were voiced by analysts. The S&P 500 fell by
0.9%, while the Nasdaq Composite saw a decline of
1.4%.
Conclusion
As economists express fears that these tariffs could potentially propel the economy into recession and jeopardize international alliances, investor anxiety continues to grow in the market.