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Stock market plummets following Trump's tariff declaration

  • On Thursday, the Dow Jones Industrial Average dropped by approximately 1,500 points after President Donald Trump announced sweeping tariffs of 10 percent or higher on imports.
  • The reported decline of more than 1,200 points in Dow futures reflects investor anxiety about the potential for a global trade war.
  • The tariffs have raised concerns about a potential global trade war and could lead to higher consumer prices, as stated by the Consumer Technology Association.
  • Vice President JD Vance assured that while tariffs would initially hurt, they are intended to benefit American jobs in the long run.
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Fortune broke the news in New York, United States on Wednesday, April 2, 2025.
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