Stocks plunge as investors say market is ‘sick and tired’ of Trump’s tariff chaos
CNN
US markets dropped again Tuesday after President Donald Trump doubled down on his threat to levy a new round of hefty tariffs on Canada.
US markets dropped again Tuesday after President Donald Trump doubled down on his threat to levy a new round of hefty tariffs on Canada. Trump said Tuesday in a social media post that he would add a 25% tariff on Canadian electricity and a 50% tariff on all steel and aluminum the US imports from its northern neighbor in retaliation for Ontario’s export surcharge on US electricity. By midday the Dow was 590 points, or 1.4% lower. The broader S&P 500 fell 1% and the Nasdaq Composite fell 0.53% after fluctuating between gains and losses. Wall Street’s fear gauge, the Cboe Volatility Index, or VIX, climbed on Tuesday after an intraday surge of 19% on Monday. The index on Monday closed at its highest level since December. “This market is just blatantly sick and tired of the back and forth on trade policy,” Art Hogan, chief market strategist at B. Riley Wealth Management, told CNN’s Matt Egan. “It feels as though the administration continues to move the goal posts. With that much uncertainty, it’s impossible for investors to have any confidence,” Hogan said.
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