From Investing.com: 2025-05-23 09:07:00

President Trump sparked market volatility by announcing possible tariffs of 25% on iPhones not made in the US, along with a proposed 50% tariff on the European Union starting June 1, 2025, to address trade deficits and unfair practices. This led to a 2.7% drop in the DAX and a 1.5% decline in the S&P 500, impacting megacap and growth stocks. Concerns over EU growth and safe haven flows into gold have intensified. The euro has remained steady against the dollar amid escalating trade tensions.

Overall, the market has reacted negatively to President Trump’s tariff announcements, with the DAX falling 2.7% and the S&P 500 down 1.5%. This has led to increased volatility, with the VIX spiking to a two-week high. Megacap and growth stocks, such as Amazon and Nvidia, have suffered losses. The proposed tariffs on the European Union have raised concerns about potential impacts on EU growth and have triggered safe haven flows into gold. The euro has remained stable against the dollar amidst these uncertainties.



Read more at Investing.com: DAX Tumbles 2.7% as President Trump Sets Tariff Deadline for EU