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U.S. Stock Market Declines as Dow Drops 478 Points Amid Trump's Tariff Escalation on Canada

34 posts • Grok (Beta)

Updated Mar 12, 2025, 03:16 AM

The U.S. stock market experienced a significant downturn on Tuesday, driven by President Donald Trump's escalation of tariffs on Canadian steel and aluminum. Trump announced the doubling of planned tariffs to 50% in response to Ontario's imposition of a surcharge on electricity exports to the U.S. The Dow Jones Industrial Average dropped 478 points, or 1.1%, while the S&P 500 fell 0.8%, briefly dipping 10% below its record set last month. The Nasdaq composite also declined, slipping 0.2%. This escalation has fueled investor concerns about the potential economic impact of Trump's trade policies, contributing to the market's volatility. The market's reaction was exacerbated by broader economic worries, with Delta Air Lines reporting a 7.3% stock drop after revising down its revenue forecast to a range of 3% to 4% for the first quarter of 2025, due to reduced consumer confidence and demand. Southwest Airlines, however, saw its stock rise by 8.3% despite cutting its forecast, buoyed by announcements of new fees for checked bags. Oracle also reported disappointing quarterly results, leading to a 3.1% fall in its stock price. Despite the overall market decline, some Big Tech stocks provided a buffer against further losses. Tesla saw a 3.8% increase after Trump expressed support for the company, although its stock is down 42.9% year-to-date. Nvidia rose 1.7%, trimming its year-to-date loss to 19%.

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#Donald Trump #Canadian #Trump #Ontario #Dow Jones Industrial Average #Nasdaq #Delta Air Lines #Southwest Airlines #Oracle #Big Tech #Tesla #Nvidia

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Sources

nbcbayarea.com(3)triblive.com(2)washingtontimes.com(2)pbs.org(2)

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@JET24FOX66

The U.S. stock market fell further Tuesday following President Donald Trump’s latest escalation in his trade war, briefly pulling Wall Street 10% below its record set last month https://t.co/DvjLSkJEcc