As President Trump implemented broad tariffs affecting numerous countries, businesses like Jaguar Land Rover and Howmet Aerospace halted shipments to the U.S. in response. The stock market faced a significant decline, with the VIX index reflecting heightened volatility not seen since the onset of COVID. Federal Reserve Chairman Jerome Powell expressed concerns about the tariffs leading to higher inflation and reduced economic growth. JPMorgan Chase also warned of a potential recession, highlighting that investors are bracing for negative impacts on corporate profits amid these economic uncertainties.
Jaguar Land Rover announced it was pausing shipments to the United States, reflecting immediate business impacts of President Trump's hefty new tariffs on various imports.
The VIX index has risen to levels not seen since early COVID days, signaling increased market volatility due to fears of economic decline.
Jerome Powell noted that the new tariffs are significantly larger than expected, implying that their economic effects will result in higher inflation and slower growth.
JPMorgan predicted a recession later this year, stating, 'We now expect real GDP to contract under the weight of the tariffs,' highlighting the expected economic downturn.
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