Wall Street reeled after President Trump’s tariffs went into effect Tuesday, with the Dow Jones Industrial Average plunging nearly 800 points, around 1.9%, at 11 a.m. ET — wiping out all of the blue-chip index’s gains since the election.
The broad-based S&P 500 and tech-heavy Nasdaq also suffered declines of nearly 2% as all three major indexes extended Monday’s losses.
Automakers like General Motors and Tesla, heavily exposed to trade tensions, saw sharper declines, while Best Buy also tumbled after reporting earnings.
Gold prices surged as investors sought safe-haven assets, and the CBOE Volatility Index (VIX), often called Wall Street’s “fear gauge,” climbed higher, reflecting mounting uncertainty.
Treasury yields, however, held steady, with the 10-year yield remaining at 4.178%, the lowest level this year.
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nypost.com
The broad-based S&P 500 and tech-heavy Nasdaq also suffered declines of nearly 2% as all three major indexes extended Monday’s losses.
Automakers like General Motors and Tesla, heavily exposed to trade tensions, saw sharper declines, while Best Buy also tumbled after reporting earnings.
Gold prices surged as investors sought safe-haven assets, and the CBOE Volatility Index (VIX), often called Wall Street’s “fear gauge,” climbed higher, reflecting mounting uncertainty.
Treasury yields, however, held steady, with the 10-year yield remaining at 4.178%, the lowest level this year.
Complete Article
Dow falls nearly 800 points — wiping out post-election Trump surge as tariffs take effect
The Dow was down nearly 800 points as of 11 a.m. Eastern time while the Nasdaq fell more than 260 points.
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