Stock Market Update: Tariffs Shake Up Markets; Dow Futures Decline and Oil Prices Surge.
Global markets experienced turbulence following the Trump administration's announcement of tariffs on Canada, China, and Mexico. Stock futures dipped, while both the dollar and oil prices saw increases on Monday morning.
The White House's decision to impose the long-anticipated tariffs surprised many investors, as they had initially been perceived as leverage in trade negotiations rather than an immediate action.
Economists have raised concerns about the potential consequences of a trade war, warning that it could drive up inflation and hinder economic growth. President Trump acknowledged on Sunday that the move might cause some discomfort for U.S. consumers but suggested that the economic cost would ultimately be "worth the price."
