AMERICAN STOCKS suffered along with the country’s trading partners on April 3rd, as both took a hammering from President Donald Trump. The announcement a day earlier of near-universal tariffs, and particularly steep levies against some Asian countries, shocked investors out of any complacency they may still have held regarding the new administration’s trade policies. The S&P 500 index dropped by almost 5% over the course of the day, leaving it down by more than 12% since its peak in February. Share prices of American firms reliant on imports and supply chains fell even more sharply: Best Buy, a retailer, ended the day down by 18%; Dell, a computer-maker, by 19%.
Source: Finance - economist.com
