Trump’s recent tariff moves have caused concern on Wall Street, with stocks slumping and Treasury yields falling sharply. Trump signed an order imposing steep tariffs on 66 countries, including the European Union, Taiwan, and the Falkland Islands, to go into effect on August 7. The markets were also reacting to government reports of a slowdown in hiring, as businesses, investors, and the Fed operate under uncertainty from months of tariff policy news. The S&P 500 fell the most since May, while the Dow Jones Industrial Average fell 1.2% and the Nasdaq composite fell 2.2%. A new jobs report showed a slowdown in hiring, with U.S. employers adding just 73,000 jobs last month, well short of the expected 115,000. Labor Secretary Lori Chavez-DeRemer announced that the head of the Bureau of Labor Statistics, Erika McEntarfer, had been removed from her post after Trump called for her firing on his social media platform.
Trump’s new tariffs have sparked a reaction from the US stock market and global trade partners. Huong 601
