Wall Street Drops as Trump’s Tariffs Hit Markets Worldwide

February 3, 2025

By Evans Momodu
1 minute read

Concerns over President Donald Trump's tariffs are rattling U.S. markets, with the S&P 500 plunging 1.7% in early Monday trading, mirroring declines across Asian and European markets.

The Dow Jones Industrial Average tumbled 557 points, while the Nasdaq composite dropped 2.1%.

Market turbulence extended beyond U.S. stocks—bitcoin, the Mexican peso, and other global assets also declined.

The hardest-hit sectors included Big Tech and companies vulnerable to rising interest rates and inflation, both of which could worsen due to the new tariffs on imports from Canada, Mexico, and China. Meanwhile, oil prices climbed amid the economic uncertainty.
Source: AP news