US EditionTariffs rattle investors, wipe out trillions in value
- On Thursday, U.S. Companies saw trillions in value wiped out after President Trump announced sweeping tariffs on foreign imports.
- Investors worried that the tariffs, considered worse than expected by economists, would negatively impact companies and the U.S. Economy.
- Banks, retailers, airlines, clothing, and technology companies experienced significant losses as investors dumped shares, anticipating lower consumer spending.
- Howard Silverblatt from S&P Dow Jones Indices reported a $2.01 trillion loss, while Olu Sonola of Fitch Ratings said, "This is a game changer."
- Economists fear the tariffs could lead to a recession as higher prices curb consumer spending, which accounts for 70% of U.S. Economic activity.
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Associated Press News+24 Reposted by 24 other sources
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Coverage Details
Total News Sources68
Leaning Left9Leaning Right8Center22Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 23%
C 56%
R 21%
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