NEW YORK (AP) — Stocks are falling again on Wall Street as companies and investors react to President Donald Trump’s decision to impose tariffs on the United States' major trading partners.
The S&P 500 fell 0.7% on Tuesday morning, the Nasdaq dropped 0.6%, and the Dow slipped 423 points, or 1%.
The growing trade war between the United States, China, Canada, and Mexico is helping to extend a recent decline in U.S. stocks that was triggered by signs of weakness in the economy.
Target and Best Buy’s stocks fell after retailers warned of higher prices for consumers due to tariffs. European markets dropped significantly, while Asian stocks saw more moderate declines.
In Europe, at midday, Germany’s DAX fell by 2.3%, while in Paris the CAC 40 decreased by 1.4% and the British FTSE 100 lost 0.5%.
In Asian trading, Tokyo’s Nikkei 225 fell by 1.2% to 37,331.18, while Hong Kong’s Hang Seng lost 0.4% to 22,922.16, and Shanghai’s composite index rose by 0.2% to 3,324.21.
South Korea’s Kospi fell by 0.2% to 2,528.92. Taiwan’s Taiex lost 0.7%, while Bangkok’s SET dropped by 1.1%.