Stocks Slump as Trump Tariffs Take Effect

Global stocks tumbled on Tuesday as investors’ concerns over the future health of the economy mounted after President Trump’s broad tariffs against Canada, Mexico and China went into effect.

The S&P 500 fell over 1.8 percent, adding to the 1.8 percent loss on Monday that was its sharpest decline this year. The Nasdaq Composite index also dropped over 1 percent, putting the index in what is known as a correction, defined as a drop of 10 percent or more from its recent peak, which was set in December, although much of the sell-off has materialized over the past two weeks.

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