Stocks opened higher Wednesday as investors looked ahead to AI bellwether Nvidia's (NVDA) after-the-close earnings report. But the main indexes turned lower in afternoon trading when President Donald Trump said he is considering implementing 25% tariffs on the European Union.
During the first cabinet meeting of his second term, Trump said the tariffs will apply to "cars and all other things." He added that "the European Union was formed in order to screw the United States. That's the purpose of it. And they've done a good job of it."
