Your support helps us to tell the storySupport NowFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it’s investigating the financials of Elon Musk’s pro-Trump PAC or producing our latest documentary, ‘The A Word’, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.The U.S. stock markets have fallen after an early selloff over fears of President Donald Trump’s new tariffs on Canada, Mexico and China.Trump delivered on his threats to introduce trade tariffs on the nations in a move that has sparked panic across global financial markets.The Dow Jones Industrial Average fell 557 points in initial morning trading, though it rebounded a bit to sit at a 200-point loss around mid-morning. The NASDAQ fell about 250 points by mid-morning, which equated to a 1.3 percent decline. The S&P 500 sank 1.7 percent in early Monday trading following similar losses for markets across Asia and Europe. Trump’s tariffs are set to come into force on Tuesday after the president signed a trio of executive orders. There are fears that Trump’s tariffs will push up the price of groceries, electronics and household bills for Americans as the president warned Americans might feel “some pain.”The U.S. inflation rate has largely been slowing since its peak three summers ago, but stubbornly high or accelerating inflation could keep the Federal Reserve from cutting interest rates, which it began doing in September to give the U.S. economy a boost.The Dow Jones Industrial Average and NASDAQ both saw morning declines over fears about what impact President Donald Trump’s tariffs might have on global economies (AFP via Getty Images)Everything from Bitcoin to the Mexican peso fell, not just the stocks of U.S. companies expected to be the first to feel pain from Trump’s tariffs on goods imported from Canada, Mexico and China. On Wall Street, some of the sharpest losses hit Big Tech and other companies that could be hit hardest by higher interest rates and higher supply costs. Trump claimed the tariffs are designed to stop the flow of drugs and immigrants from Canada and Mexico, which have been hit with 25 percent tariffs. Chinese goods will also see a new 10 percent tariff placed on them, with Trump hinting more countries across the world could make the list in the near future.Over the weekend, Mexico and Cana
Lun. Feb 3rd, 2025
