U.S. stock market plunge as Trump’s tariffs spark fears about a trade war
U.S. stock markets plummeted on Tuesday morning as a new global trade war began.
China and Canada announced new retaliatory measures on Tuesday after President Trump’s long-promised tariffs took effect overnight. Trump imposed a 25% levy on most imports from Canada and Mexico, with an additional 10% tariff on Canadian energy exports. Tariffs on Chinese goods were increased from 10% to 20%.
U.S. investors continued a selloff that had started on Monday after Trump announced that there was “no room left” for negotiation with Mexico or Canada.
The Dow fell 1.8%, or more than 770 points in mid-morning trading on Tuesday. The Nasdaq and S&P 500 also dropped more than 1.5%. The price of bitcoin fell below $83,000, shedding all of its gains from a weekend rally after Trump said he would create a U.S. “strategic reserve” of cryptocurrencies, including Bitcoin.
Canada, Mexico, and China are the country’s three largest trading partners. The escalating trade war is likely to result in consumers paying higher prices for a wide range of products, including fruits and vegetables, flat-screen TVs, and auto parts.
Shares of major U.S. automakers Ford and GM also plunged on Tuesday. So did the shares of Best Buy and Target, as those large retailers warned that the new tariffs could increase the prices their customers pay.
For a girl-group veteran, love and fame are the same battlefield
Jade conquered the world with Little Mix, then watched the quartet burn out. On a kinetic solo debut, she puts romance in the ring with her first love: performance.
Trump says he disagrees with Starmer’s decision to recognize Palestinian state
President Trump and British Prime Minister Keir Starmer talked about foreign affairs privately for about an hour, including the conflicts in Gaza and Ukraine.
Care close to home: how a rural doctor meets medical needs in Alabama’s countryside
Doctors are harder to come by in rural Alabama than in big cities. That’s why Cahaba Medical Care developed a residency program that both trains and then hires doctors in rural clinics.
Federal judge orders Jefferson County to redraw racially gerrymandered districts
U.S. District Judge Madeline H. Haikala ruled the county map was unconstitutional because race was the predominant factor when the Jefferson County Commission drew districts.
To save its unique and rare birds, New Zealand is turning to AI and genetic research
New Zealand is planning to eradicate millions of invasive animals that prey on the country's rare birds. The goal may not be possible, unless new technology can be developed to do it.
Trump is deploying the National Guard to Memphis. Experts worry it’s becoming normal
The president signed an order earlier this week to send Tennessee state National Guard troops, along with officials from various federal departments and agencies, into Memphis, in an effort to fight crime. It's one of several U.S. cities Trump has singled out for such a move, testing the limits of presidential power and military force.
