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Stocks Skid, Dollar at 3-Week Top as Trump Announces Auto Tariffs


Published on 2025-03-26 21:41:12 - Reuters
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  • SYDNEY (Reuters) - Asian shares skidded with Wall Street on Thursday while the dollar climbed to a three-week high after U.S. President Donald Trump announced new tariffs on all auto imports, ratcheting up a global trade war that risks fuelling inflation.

The article from MSN discusses the financial market's reaction to former President Donald Trump's announcement of imposing tariffs on automobiles. Following the announcement, U.S. stock markets experienced a decline, with the Dow Jones Industrial Average, S&P 500, and Nasdaq all recording losses. The U.S. dollar strengthened, reaching a three-week high, reflecting investor concerns over potential trade wars and their impact on global trade. The proposed tariffs aim to protect domestic auto manufacturers but have raised fears of retaliatory measures from trading partners, potentially escalating into broader economic conflicts. This uncertainty has led investors to move towards safer assets, bolstering the dollar's value. Additionally, the article mentions that these tariffs could affect not just the automotive industry but also broader economic sectors due to increased costs and potential disruptions in supply chains.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/economy/stocks-skid-dollar-at-3-week-top-as-trump-announces-auto-tariffs/ar-AA1BJhgI ]