"President Trump announced tariffs set to take effect August 1, impacting exports from over a dozen countries, including significant rates for U.S. allies."
"Investors reacted to Trump's announcements with concern, as growth prospects dimmed and major bank stocks received downgrades from abroad."
President Trump announced tariffs effective August 1, impacting exports from numerous countries including South Korea and Japan with rates up to 40%. The Vanguard S&P 500 ETF dropped 0.7% as investors processed the economic implications of these tariffs. Major U.S. banks experienced downgrades from international analysts, signaling a decline in growth prospects. Concerns among investors grew as the belief that tariffs were merely a bluff was challenged, contributing to ongoing market volatility and a selloff of stocks.
Read at 24/7 Wall St.
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