Trump, Stocks
Digest more
The Dow, S&P 500 and Nasdaq retreat from record highs as President Trump rolled out a fresh tariff against Canada, following Brazil hit. Meanwhile, the Federal Reserve and Chairman Powell are under fire for spending on renovations.
Late Thursday, Trump posted a letter threatening to impose 35% tariffs on goods from Canada. The barrage of letters began on Monday, setting tariffs of 25% on goods from Japan and South Korea and 50% on Brazil.
Markets had dismissed tariff risks under the assumption that Trump would follow an earlier pattern and back off, in what became known as the so-called TACO trade. That allowed stocks to reach new record-high territory recently, marking a stunning rebound from the collapse triggered by his “Liberation Day” reciprocal tariffs in April.
Dan Scavino sold off at least $1 million in Truth Social stock on April 1, while Sergio Gor sold at least $15,000 a few days earlier.
Canadians have been shunning US products as a result of President Donald Trump’s trade war. Now there’s evidence some also want to see fewer US stocks in their retirement accounts and pensions funds.
Stock indexes edged higher on Thursday, with investors weighing the latest trade announcements from U.S. President Donald Trump, while the Brazilian real recovered some losses following Trump's announcement of a 50% tariff on goods from Brazil.
Tariff uncertainty has been reignited; however, a truce with major trading partners could be an opportunity. Learn more about 3 top stocks set to benefit.
Stocks moved lower in early trading Friday as investors digested the latest threats from President Donald Trump to impose hefty tariffs on U.S. trading partners.
Major stock indexes were slightly lower on Friday as U.S. President Donald Trump's announcement of tariffs on imports from Canada fanned worries about trade tensions, with the Canadian dollar down against the greenback.