Stock sink as Trump holds more tariffs on Canada

American stocks fell on Tuesday President Donald Trump Said that he would impose more tariffs on steel and aluminum entering America from Canada.

Dow Jones Industrial Average was more than 478.23 points or 1.14%, while Nasdaq Composite and S&P 500 fell 0.18%and 0.75%respectively.

Trump on Tuesday announced in a true social post that the US would put an additional 25% levy on steel and aluminum imports from Canada, reaching a total of 50% in response to Ontario, with the price of power sold to some states increased.

Trump posted on the truth social, “I have directed my Secretary Secretary to add 25% tariff to 50%, which is one of the highest tarfing nations in the world on all steel and aluminum coming from Canada to the United States.”

The President also warned the post that he would “largely” to “to a large extent” on the auto entering the US from Canada on 2 April, if “other egoistic, long -long tariffs” are not dropped by Canada.

Ontario Premier Dag Ford agreed to suspend 25% levy on electricity after talking to Commerce Secretary Howard Lutnik on Tuesday afternoon.

“Secretary Lutnik agreed to officially meet with Premier Ford in Washington on Thursday, March 13, with the United States trade representative, shared a new USMCA (United States-Maxico-Canada Agreement) on 2 April 2 April 2 to a post in a post. ,

The disadvantage follows Monday’s sales and closure that began with concerns about the impacts of Trump’s tariff on economic growth, teasing investors. Dr. Dow and S&P 500 saw their worst day since 18 December; Since September 2022, Tech-Havi was the worst day of Nasdac.

Stock tumble, trump tariff uncertainty on the possibility of recession

On Sunday, Trump clearly refused to rule a fully developed recession for the US economy this year, in which Maria Bartiromo stated in a special interview that the country would see the “duration of infection” as their policies are effective.

“I hate to predict such things,” he said about the recession. “It is a period of transition because what we are doing is very big. We are bringing wealth back to America. It’s a big thing … it takes a little time, but I think it should be very good for us.”

Financial markets have been unstable in recent weeks as signs of growing trade stress and slowing down US economic development Consumer confidence and commercial activity were weighed. Investors are struggling with a barrage of new policies from the new Trump administration, especially in business, where the tariff policy has increased uncertainty for businesses, consumers and investors.

Trump says that we would experience the ‘duration of transition’ when asked if the economy can see the recession this year.

Dan Kotworth, an investment analyst of AJ Bell, said on Monday, “Many people are concerned about high evaluation between American equity and are looking for catalysts for market improvement.” “A business war, geo -political stress and an uncertain economic approach can be a combination catalyst.”

Tech stocks recently bored the celloff on Wall Street Tesla share Especially in more than 15% tambling on Monday.

Tesla’s stock in the previous month is less than 41.4% years, including a decline of more than 36.6% in the previous month. Since Tesla reached its biggest market capitalization on December 17, its stock has fallen more than half of the new market cap of $ 696 billion by March 10.

Slide between Tesla stock slide amidst selling market concerns, tariff uncertainty

The UBS cut its forecast for the first-witted delivery, which contributed to the sale of a slowdown between Trump’s tariff threats and a broader business war facing widespread concerns about the American economy facing a wide trade war.

Art Hogan, the main market strategist of B Relay Wealth, said on Monday, “The story changes on a daily basis around the tariff – that’s why it creates all uncertainty.” “Damage around the markets, which is everything with emotion, is more reflected in Nasdaq, as technology stocks are certainly more affected by risk emotion.”

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Other spectacular seven stock shares – Apple, Microsoft, Alphabet, Amazon, NVIDIA and META platforms, fell between 2.4% and 5.1% on Monday.

Fox Business’ Taylor Penley, Eric Rewel and Reuters contributed to this report.