President Donald Trump and his guests at the Rose Garden today celebrated Liberation Day. Stock investors won't be celebrating tomorrow based on the plunge in futures prices tied to the DJIA, S&P 500, and the Nasdaq-100. The Stock Market Vigilantes are not happy.
Trump announced that on April 5, his administration will impose a 10% tariff rate on all imports from all of America's trading partners. The 60 "worst offenders," which are countries deemed to have onerous nontariff barriers to their markets, will have their own reciprocal tariff rates starting on April 9. Trump's Reign of Tariffs exceeds most expectations. The day after Liberation Day may be more like D-Day on Wall Street. That's too bad.
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