Stock markets react negatively today to Trump’s trade war

As Trump prepared to impose tariffs on Canada, Mexico, and China, U.S. stock markets plummeted at the opening on Monday.

The S&P 500 fell by 1.7% in early trading, while The Dow Jones Industrial Average dropped 557 points, according to AP. The Nasdaq composite was down by 2.1% at the opening bell.

This sharp decline indicates that the markets are skeptical of the president’s plan to implement a series of import taxes starting tomorrow.

Tariffs of 25% will be imposed on Mexico and Canada, while Chinese products will face duties of 10%.

Trump acknowledged over the weekend that his trade war could result in “a little pain” for American families.  It seems the markets don’t agree!

The uncertainty surrounding these tariffs has clearly rattled investors, leading to a significant downturn in the stock markets. It remains to be seen how this trade war will impact the economy in the long run.