President Donald Trump’s tariff policy has sparked a volatile market, with the stock market experiencing its worst session since 2022. The president had announced plans to double US tariffs on Canadian steel and metal imports, but later reversed course after Canada suspended new electricity charges. Despite the reversal, European countries have hit back with their own tariffs on $28.4 billion worth of US goods.
The Trump administration’s response to market concerns has been lukewarm, a stark contrast to its first term when it closely monitored the stock market’s performance. The move has led Wall Street to reassess its stance on the new administration, with some big-name hedge funds experiencing dismal February and March performances.
Meanwhile, tech giant Tesla is seeing internal changes, with Elon Musk’s xAI venture restructuring under new leadership. Billionaire Ron Baron’s firm shed some Tesla shares due to concerns over his large stake in the company.
The business world is also feeling the pinch, with Southwest Airlines abandoning its once-popular perks and struggling to regain market share. On a lighter note, social media mogul Mark Zuckerberg has had some awkward moments when meeting with world leaders, as revealed in his memoir.
As markets continue to react to Trump’s trade policy, investors are taking notice of a decline in confidence in the US dollar. With a new week ahead, expect more updates on the economic situation and potential market movements.
Source: https://www.businessinsider.com/trump-ignoring-wall-street-warnings-tariffs-investors-stocks-recession-nasdaq-2025-3