Global markets reacted sharply and swiftly after President Donald Trump revealed his much-anticipated tariff plans, causing U.S. stock indexes to plummet and companies reliant on global supply chains to see significant stock declines. Trump’s announcement of a 10% tariff on all trading partners, along with reciprocal tariffs exceeding 20%, caught many investors off guard and led to widespread sell-offs, with tech giants like Apple and Amazon dropping significantly. The market turmoil also impacted automakers like General Motors and Ford, with Goldman Sachs estimating potential price hikes of up to $15,000 on foreign-made cars under Trump’s tariffs.
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