How Trump tariffs led to a $2.5 trillion wipeout for the US stock markets – and why worse is yet to come
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Trump tariffs led to a $2.5 trillion US stock market wipeout – and worse is yet to come
- Trump's recently announced global tariffs triggered a massive $2.5 trillion wipeout in US stock markets, impacting major companies like Apple, Amazon, and Disney.
- The tariffs have caused global market instability, affecting share prices in Asia, Europe, and the UK, and raising concerns about a potential global recession.
- Apple suffered a significant loss of approximately $310 billion in market value due to tariffs on parts and materials sourced from countries like China and Vietnam.
- The US dollar weakened against the pound, and there are predictions of higher inflation and a decline in international travel to the US, further impacting the economy.
- While Trump believes the tariffs will lead to long-term economic gains, the immediate impact has been negative, with no clear signs of recovery in the near future.