Wall St. drops after Trump announces Mexico tariffs
Reuters reports U.S. stocks dropped on Friday following President Donald Trump’s surprise threat of tariffs on Mexico, which led to fear that increasing trade wars could lead to an economic recession. Trump tweeted Thursday that Washington will impose a 5% tariff from June 10, which will rise steadily to 25% until illegal immigration across the US-Mexico border is stopped. The Dow Jones Industrial Average fell 315.97 points, or 1.26%.
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