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Wall Street is Rocked as Major Stocks Immediately Plummet at Open; Trillions Wiped Off Economy and 401(K)s
The stock market has been sent into a tailspin after President Donald Trump’s unexpected announcement on Wednesday, which has seen the Dow Jones plummet by over 200 points. The sudden drop in stocks has resulted in trillions of dollars being wiped off the economy and millions of Americans’ retirement accounts.
As investors scrambled to react to the news, many major stock indices suffered significant losses, with some seeing declines of up to 3%. The Dow Jones Industrial Average fell by as much as 233 points, or roughly 0.8%, while the S&P 500 dropped by nearly 1.5%.
The sudden downturn in the market was a direct result of President Trump’s announcement that he would impose reciprocal tariffs on countries that charge import taxes to the United States. The move is expected to significantly impact the global economy and has sent shockwaves through financial markets.
“It’s not going to happen anymore,” Trump said in his statement, referring to the alleged exploitation of U.S. trade policies by other nations. He also criticized “foreign scavengers” and accused other countries of pillaging and plundering American industries.
The news has sent investors scrambling for cover, with many wondering what the long-term impact will be on the economy.
Source: https://www.dailymail.co.uk/yourmoney/article-14565937/wall-street-stocks-turmp-tariffs-panic.html?ns_mchannel=rss&ito=1490&ns_campaign=1490
