The post Stocks fall sharply as U.S. tariffs trigger retaliation from China and Canada appeared on BitcoinEthereumNews.com.

Late Monday, Wall Street traders rushed to unload stocks after President Donald Trump confirmed that his threatened tariffs on Canada and Mexico would take effect early Tuesday. In recent reports, China has rejected additional tariffs, and Canada is striking back With Tariffs on $107 Billion worth of US products. The Dow Jones Industrial Average sank roughly 800 points, or 1.8%. The S&P 500 shed 2.1% and headed toward its worst day of 2025, while the Nasdaq Composite tumbled 3%. Nvidia led the tech rout, falling more than 9% on separate concerns about its global supply chain. Nvidia stock price. Source: Google Finance Investors had hoped for a last-minute reprieve, but Trump, speaking at the White House with Commerce Secretary Howard Lutnick, announced there was “no room left for Mexico or for Canada.” He added that “tomorrow, tariffs, 25% on Canada and 25% on Mexico, and that will start.” The president also confirmed an extra 10% tariff on China—adding to the 10% increase he recently instituted—citing a need to protect American interests. Trump talks about Canada and Mexico tariffs at the White House. Source: CNN The sudden market downturn erased early-year gains that had come from investor optimism about deregulation and expected tax cuts under the Trump administration. The Dow, which climbed about 5% at its peak this year, now sits just 1% higher than its level at the start of 2025. The S&P 500’s 2.1% slide signals renewed investor anxiety, especially in industrial and consumer goods sectors, which are highly exposed to trade tensions. The tech-heavy Nasdaq’s 3% drop is linked both to rising tariffs and to a separate drag on chipmakers led by Nvidia. The chipmaker’s stock sank as worries about restricted access to critical supply chains deepened. China rejects additional U.S. tariffs China’s Ministry of Commerce released a…

---

Filed under: News - @ March 4, 2025 6:22 am