Trump's Tariff Threats Send US Markets into a Tailspin!

2025-03-11 18:02:49.692

US markets plummeted for a second day on Tuesday after President Donald Trump announced plans to impose hefty tariffs on Canadian electricity and steel and aluminum imports. The Dow Jones Industrial Average dropped 720 points (1.72%), the S&P 500 fell 1.5%, and the Nasdaq Composite declined 1.2%. This followed Monday's steep losses, with the Dow plunging 890 points and the S&P 500 shedding 2.7%. The Cboe Volatility Index (VIX), a measure of market fear, surged, reaching its highest level since December. Market analysts expressed deep concern over the administration's unpredictable trade policies, stating that the uncertainty makes it impossible for investors to have confidence. The selloff extended a broader market rout, raising concerns about a potential recession. Trump's comments on the possibility of a recession further fueled investor anxiety. Airlines and Ford were among the stocks hit hardest. The negative sentiment spread globally, with European markets also experiencing significant declines.