Wall Street Declines as Tariff Fears Intensify

U.S. stock indexes experienced significant declines on Wednesday as investors expressed concern over President Donald Trump's imminent tariff announcements, dubbed 'Liberation Day.' The Dow Jones Industrial Average fell 342.35 points, the S&P 500 dropped 57.65 points, and the Nasdaq Composite saw a decrease of 241.23 points, reflecting widespread anxiety about the potential economic impact of Trump's planned 'reciprocal tariffs.' While details remain unclear, reports suggest these tariffs could be around 20% on most imports, raising fears of inflation and recession. Economists warn that the tariffs could disrupt economic growth and increase uncertainty, leading to volatility in the markets. As a result, investors have turned to safe-haven assets like gold, which reached record prices, amidst the ongoing market turbulence driven by trade policy uncertainties. Overall, the combination of tariff fears and economic data contributed to a challenging environment for U.S. equities.