Trump imposes tariffs on multiple countries, causing stock market drop and dollar rise

From Investing.com.: 2025-02-28 06:24:00

President Trump confirmed 25% tariffs on Canada and Mexico, while increasing tariffs on China by 10%, causing a dangerous turn in the trade war. The dollar rose despite lower yields and growing Fed rate cut bets. The Aussie and Kiwi saw FX losses, with gold sinking again. Equity selloff deepened as Nvidia shares plunged. The market reaction was strong, with Asia and Europe following Wall Street’s lead. China is preparing for the ‘Two Sessions’ next week, potentially distracting from immediate retaliation to Trump’s tariffs. The dollar continued to rise as gold and Bitcoin bled. US data and Fed rate cut bets are in focus.



Read more at Investing.com.: US Dollar Extends Gains, Stocks Tumble as Trump Slaps More Tariffs