Trump, Wall Street and tariff
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Cryptopolitan on MSNWall Street fell Friday, with the Dow down 297 points and the S&P 500 slipping 0.3%Wall Street gave up gains Friday after President Donald Trump hit Canada with a fresh 35% tariff and promised more across the board. This came just a day after the S&P 500 set a brand new all-time high.
The majority of the new tariffs announced closely reflect the rates proposed in April; Laos and Burma are set to face the highest levy at 40%. Meanwhile, goods from Cambodia and Thailand will face slightly lower rates of 36%. Additionally, Brunei, Japan, Kazakhstan, Malaysia, Moldova, South Korea and Tunisia will see a 25% tariff hike.
While tariffs are a tangible worry for investors, something far more nefarious (and important) can weigh on the stock market.
World shares are mostly higher, with financial markets shrugging off U.S. tariff pressures on its trading partners