- The stock market rally since Trump’s presidency has ended abruptly, with major indexes dropping after the White House confirmed a 25% tariff on Canada and Mexico, alongside existing tariffs on China. In response, Canada and China have imposed retaliatory tariffs, fueling inflation concerns, market volatility, and declining growth expectations, with the Atlanta Fed now projecting a –2.8% GDP contraction for early 2025.
The stock market bounce that Wall Street has enjoyed since Donald Trump was named president has officially come to an end. The S&P 500 dropped nearly 2% in a day after the White House pushed ahead with unwelcome plans to place a 25% tariff on Canada and Mexico.
