Wall Street Turns Red, Trump's 15% Tariff Triggers Panic Selling
US stocks weakened on Monday (February 23rd) after President Donald Trump said he would raise global tariffs following the US Supreme Court's ruling that invalidated the "reciprocal" tariffs he had previously pushed for. Selling pressure intensified as markets were once again gripped by uncertainty over the direction of US trade policy.
The Dow Jones Industrial Average fell 807 points, or 1.6%. The S&P 500 fell 1.2%, while the Nasdaq Composite dropped 1.4%, signaling a strengthening risk-off sentiment earlier in the week.
Trump reiterated his ability to raise tariffs, even warning of higher duties against countries he believed wanted to "play games" after the court ruling. In a post on Truth Social, he stated that any country attempting to exploit the Supreme Court ruling—especially those deemed to have harmed the US for years—would be faced with significantly higher tariffs. He concluded his message with a stern warning to the market: "Buyer beware."
This statement followed Trump's announcement on Saturday that he would raise global tariffs to 15%, from the 10% he announced on Friday. Trump said the new tariffs would take effect immediately, although it was unclear whether official documents regarding the implementation date had been signed. He also signaled that additional tariffs would be imposed in the coming months, raising market concerns about the risk of trade policy escalation.
Source: Newsmaker.id
