US stock-index futures plummeted sharply, while oil prices surged overnight after President Donald Trump announced heavy tariffs on imports from Canada, Mexico, and China. Analysts say the sweeping levies, including 25% tariffs on Canadian goods, 10% on energy products from Canada, and an additional 10% tariff on Chinese goods, will send shockwaves through investors.
The market’s reaction is being described as a “self-delusion” by some analysts, who believe Trump was using the threat of steep levies as a bargaining chip. The swift implementation of these tariffs may have been a surprise to many, leaving investors uncertain about what to expect next. As a result, oil prices are expected to rise quickly, while Bitcoin and gasoline prices could also see significant jumps.
Market analysts urge caution ahead, warning that the impact of these tariffs will be felt across various financial markets. The decision has already sent ripples through global trade, and its effects on the economy are yet to be fully understood.
Source: https://www.marketwatch.com/story/stocks-expected-to-open-lower-after-trump-tariffs-end-self-delusion-in-markets-ed9f5452