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View all episodesUSA Today’s run, before and after February 3, 2025
1:01:16Now PlayingWatch live: US Stock markets open after tariff announcements
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February 3, 2025
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1:01:16Now PlayingU.S. stocks opened lower, rattled by a potential trade war after President Donald Trump unleashed tariffs on Canada, Mexico and China, beginning Tuesday.
At 10:06 A.M. ET, the broad S&P 500 index was down 1.69%, or 102.33 points, to 5,938.20; the blue-chip Dow lost 1.4%, or 624.41 points, to dip to 43,920.25; and the tech-heavy Nasdaq shed 2.16%, or 423.65 points, to slip to 19,203.79. The benchmark 10-year Treasury yield dipped to 4.498%.
A 25% tariff will be slapped onto Canadian and Mexican goods, except Canadian oil which has a lower 10% levy. Chinese goods will be taxed at 10%. Trump said in a social media post the decision was made to “protect” Americans “because of the major threat of illegal aliens and deadly drugs killing our Citizens, including fentanyl.” Trump said Europe would be next.
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