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Stock market plummets following Trump's tariff declaration

  • Financial markets experienced a significant drop as Dow futures fell over 1,200 points after President Donald Trump announced proposed tariffs, intensifying fears of a global trade war.
  • The Consumer Technology Association warned that these tariffs would cause 'massive tax hikes' on American consumers, leading to increased prices and economic hardship.
  • Vice President JD Vance assured the public that the tariffs would eventually contribute to long-term economic health despite short-term pain for consumers.
  • The market's reaction suggests investors fear the tariffs could disrupt supply chains and escalate into a full-blown trade conflict.
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Fortune broke the news in New York, United States on Wednesday, April 2, 2025.
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