Wall Street Meltdown: Dow Plunges as Trump Tariffs Trigger Market Carnage
Global markets continue their dramatic downturn with the Dow Jones falling 5% today, capping a 9.5% loss over two days—the sharpest two-day decline since the pandemic crash in 2020. The fallout follows President Donald Trump’s sweeping tariff announcement, which introduced a 10% base tariff on all foreign imports, and a crippling 54% tariff on Chinese exports.
The Bloomberg Billionaires Index reports the biggest two-day wealth loss ever, with the world’s 500 richest individuals collectively losing nearly $500 billion. Mark Zuckerberg saw a $17.9B drop in net worth, while Jeff Bezos lost $15.9B.
Elsewhere, platinum prices fell 4%, and governments like Panama’s are now scrambling to seek tariff exemptions amid rising fears of a global recession. Analysts warn of broader contagion across debt and commodities markets if the Federal Reserve does not intervene.
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