Global markets tumbled after President Trump announced 10 percent tariffs on all U.S. trading partners except Canada and Mexico, with even higher tariffs on other main partners, causing futures on the S&P 500 to slump over 3 percent. Asian markets also fell sharply, with benchmark indexes dropping over 3 percent in Japan, and nearly 2 percent in Hong Kong and South Korea. The surprise scale of the tariffs has left analysts questioning the basis for the numbers and fearing a global recession due to the uncertainty and potential impact on the economy.
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Why Alphabet Stock Flopped on Friday
Alphabet (NASDAQ: GOOG, GOOGL) shares dropped nearly 4% at the end of the trading week, significantly underperforming the S&P 500's 0.2% decline, following the European Union's ruling that the company must pay a €4.1 billion ($4.7 billion) fine for limiting search engine competition through its Android system. Alphabet is currently appealing this fine, which stems from a 2018 decision. Explain It To Me Like I'm 5: Alphabet, the company that owns Google, lost money because...
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