Global stocks plummeted following President Trump’s announcement of new tariffs, with the S&P 500 experiencing its worst day since 2020, dropping 4.8%. Major companies like Nike and Apple saw significant share declines as Trump maintained that the tariffs would ultimately boost the US economy, despite fears of rising prices and potential retaliation from trade partners, including China and the EU. Analysts warned that these tariffs could lead to a recession in the US and hinder growth in Europe, with immediate negative impacts already evident in the automotive industry.
