The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite all fell more than 1% — extending Monday’s losses.
Wall Street reeled after President Trump’s tariffs went into effect Tuesday, with the Dow Jones Industrial Average plunging nearly 800 points, around 1.9%, at 11 a.m. ET — wiping out all of the blue-chip index’s gains since the election.
The broad-based S&P 500 and tech-heavy Nasdaq also suffered declines of nearly 2% as all three major indexes extended Monday’s losses.
Canada and Mexico were hit with 25% tariffs, while China’s duties were doubled to 20%.
Automakers like General Motors and Tesla, heavily exposed to trade tensions, saw sharper declines, while Best Buy also tumbled after reporting earnings.
