The stock market experienced another sharp decline as President Trump announced new tariffs on Canadian aluminum and steel, intensifying trade tensions. The Dow Jones Industrial Average dropped nearly 600 points before recovering slightly, following a 900-point plunge the previous day.
Financial analysts are warning of potential economic turbulence, with Citigroup and HSBC downgrading their outlook on U.S. equities. Meanwhile, Ontario Premier Doug Ford responded by suspending Canada’s 25% surcharge on electricity exports to the U.S. Despite concerns over market volatility, President Trump remains firm on his stance, emphasizing the long-term benefits of tariffs in strengthening the American economy.
