S&P 500 closes 1.8% lower after worst session of year while Nasdaq Composite drops 2.6%
US markets fell after Donald Trump announced 25% tariffs on all imports from Canada and Mexico would begin Tuesday, despite previous postponements and diplomatic efforts. The tariffs aim to incentivize manufacturing in the US. Trump also threatened and signed an executive order for 20% tariffs on Chinese imports. The moves have raised concerns about the US economy, with data suggesting a decline in GDP growth.
