Despite yet another day of volatility in the world’s stock markets, US President Donald Trump has stated that he has no intention of suspending global tariffs. Trump said, “We’re not looking at that,” in response to a reporter in the White House asking if he would be amenable to a tariff halt to facilitate talks. Numerous nations are approaching us to negotiate agreements, which will be fair and, in some situations, require them to pay significant tariffs.
Trump’s remarks come after a day of significant volatility in the US stock market as the president vowed to increase tariffs further, even as Wall Street obviously wanted him to do the exact opposite. The Nasdaq composite increased by 0.1%, but the Dow Jones Industrial Average fell 349 points, or 0.9%.
The day began with a significant decline in all three indices, with the Dow plunging as much as 1,700 points after suffering even more severe losses overseas. In a surprising turn of events, though, it recovered to gain close to 900 points by the end of the morning. In contrast, the S&P 500 saw a sharp increase from a 4.7% loss to a 3.4% gain, which would have been its largest rally in years.
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