'It's hard to predict': Professor weighs in on stock market plunge following tariffs announcement
- President Donald Trump announced new 25% tariffs on aluminum and steel products on April 2, 2025, raising U.S. Import duties to their highest levels in over a century.
- The UK government is considering retaliatory tariffs, with Trade Secretary Jonathan Reynolds stating that a four-week consultation on the matter will occur.
- The FTSE 100 fell to a three-month low following the tariff announcement, and the Dow Jones index dropped almost 4%, as analysts consider the risk of a U.S. Recession.
- Economists predict that UK economic growth could decrease by up to 0.5 percentage points due to the tariffs' global effects, impacting Chancellor Rachel Reeves's fiscal plans significantly.
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World stock markets fall in free fall after "Liberation Day"
Trump's shock announcement about tariffs has shaken the world's stock markets. The tech-heavy Nasdaq is heading for its biggest decline since the 2020 pandemic on Thursday. The Stockholm Stock Exchange is closed
·Stockholm, Sweden
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R 50%
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