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Stocks Plummet After Trump Says Tariffs On Canada, Mexico Will Start, Igniting Trade War Fears
President Donald Trump announced that tariffs on Canada and Mexico will take effect in less than a day, sending the stock market tumbling amid fears of a trade war.
Trump said on Monday afternoon, March 3, that the US will impose 25 percent rates on imports from the two neighboring nations and the United States’ primary trading partners, effectively quashing any last-minute hopes for a negotiated agreement.
“There’s no room left for Mexico or for Canada” to negotiate to prevent the tariffs from taking effect on Tuesday, March 4, Trump said at the White House, adding, “They’re all set.”
The…
Jobless Claims Hit Four-Month High, Adding To Inflation And Recession Fears
Unemployment claims have surged to their highest level since October 2024, adding to growing concerns over job security and the broader economy.
Initial jobless claims jumped by 22,000 to 242,000 for the week ending on Saturday, Feb. 22, the Bureau of Labor Statistics said in data released on Thursday, Feb. 27. The previous week's total was revised up slightly to 220,000.
The rise in claims comes as consumer confidence took its steepest monthly dive since August 2021 amid concerns over inflation, tariffs, and the labor market. The Conference Board's Consumer Confidence Index fell …
