Introduction
On Thursday, stock markets in Canada and the U.S. experienced significant declines following President Trump's announcement of new tariffs.
Context
Trump's tariff announcement on Wednesday came after months of tariff threats, raising alarm among investors and economists alike.
Developments
Economists expressed concerns that these levies could potentially trigger a global economic recession. Mike Archibald noted that the tariff news was worse than most had anticipated. As a result, the market drop wiped out trillions in value, intensifying fears of an impending recession.
Conclusion
The sharp decline in stock markets highlights the profound impact of tariff announcements on investor confidence and the broader economy.
