Nasdaq enters correction, S&P 500 sinks to lowest since November as shares get clobbered on Trump tariff whiplash
The markets sank again towards session lows on Thursday after President Trump introduced that tariffs on items and providers from Mexico that fall below the US-Mexico-Canada commerce settlement (USMCA) can be delayed till April 2.
Nevertheless, the president didn’t say the identical about Canada.
“After talking with President Claudia Sheinbaum of Mexico, I’ve agreed that Mexico won’t be required to pay Tariffs on something that falls below the USMCA Settlement. This Settlement is till April 2nd,” Trump wrote on Reality Social.
“I did this as an lodging, and out of respect for, President Sheinbaum,” he added.
^GSPC ^IXIC ^DJI
The omission of Canada seems to have spooked the markets. The Dow Jones Industrial Common (^DJI) fell greater than 1% whereas the S&P 500 (^GSPC) dropped 1.8%. The tech-heavy Nasdaq Composite (^IXIC) misplaced greater than 2%.
Earlier on Thursday, Trump wrote, “Consider it or not, regardless of the horrible job he’s executed for Canada, I believe that Justin Trudeau is utilizing the Tariff downside, which he has largely induced, to be able to run once more for Prime Minister. A lot enjoyable to observe!”
