Dow tumbles 800 points as Trump confirms tariffs on Mexico and Canada will start Tuesday
US stocks slid Monday as investors braced for President Donald Trump’s proposed tariffs on Canada and Mexico to go into effect by the midnight deadline.
The Dow tumbled 650 points, or 1.48%, to close at 43,191. The Dow fell almost 900 points in afternoon trading before pulling back slightly. The broader S&P 500 fell 1.76% and the Nasdaq Composite fell 2.64%.
The S&P 500 posted its biggest one-day decline of the year. The Nasdaq is down about 6.5% since since Trump took office on January 20.
“Tomorrow, tariffs — 25% on Canada and 25% on Mexico,” Trump said during a press conference at the White House. “And that’ll start. … What they have to do is build their car plants, frankly, and other things in the United States, in which case they have no tariffs.”
Trump said the two trading partners had “no room” left to negotiate to avoid the levies and that he was using tariffs to “punish” countries that, as he put it, were taking from the US economy without giving enough in return.
“They’re all set. They go into effect tomorrow,” he said.
Trump also signed an executive order on Monday raising tariffs on imports from China to 20%, up from 10%. Trump said the tariffs, aimed at bringing China to the table on curtailing fentanyl entering the United States, will be raised because the communist country has not done enough to stem the flow of illegal drugs.
The VIX, Wall Street’s fear gauge, surged to its highest point this year after Trump’s comments.
“Due to the uncertainty surrounding the tariffs, the stock market has erased the gains from the ‘Trump bump’ following the presidential election and the expected upward pressure on prices is giving investors pause,” said Gustavo Flores-Macias, a professor of government and public policy at Cornell University.
“For investors, 2025 can still be a positive year for stocks, but it may take all year to realize gains. And they may be modest,” said Gina Bolvin, president of Bolvin Wealth Management Group.
“I’m still a bull,” Bolvin said.
The import taxes Trump imposed are significant — the largest in US-China history. The initial tariffs, which went into effect February 4, set in motion tariffs on $1.4 trillion of imported goods. That’s more than triple the $380 billion worth of foreign goods that were hit with tariffs during Trump’s first term, according to estimates from the Tax Foundation.
Before he became president, Trump pledged a 60% tariff on all Chinese goods, so the tariff level could rise still.
Commerce Secretary Howard Lutnick said at the press conference about tariffs on Canada and Mexico that global companies can avoid tariffs if they invest into production in the United States, like TSMC, the Taiwanese chipmaker at the White House on Monday to announce a $100 billion US investment.
Trump’s tariffs will raise prices of imported goods, which could boost demand for goods produced in the US, according to analysts at Goldman Sachs. But they also noted that tariffs will have negative effects on some American businesses.
“Tariff increases will also raise production costs for some domestic producers and will likely prompt foreign retaliation against some US exports, both of which could hurt domestic production,” they wrote in a note.
#CNN
#Mexico #Canada #China #US #News
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Israel launches air attacks near Syria’s Tartous
Israel has carried out air strikes near Syria’s Mediterranean port city of Tartous, Syrian state media has reported.
An Israeli army statement on Monday said that its forces “struck a military site where weapons belonging to the previous Syrian regime were stored in the area of Qardaha”, the hometown of deposed Syrian President Bashar al-Assad, some 60km (37 miles) north of the Tartous port.
#Aljazeera #News #Israel #Syria
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Artificial intelligence has been applied to some of the world's most famous works of art. See the impressive result of the technology era.
Artificial intelligence has revolutionized the art world by reinterpreting and recreating some of the most famous works of art. Through techniques like style transfer, AI algorithms can emulate the distinct styles of iconic artists, blending technology with creativity to produce stunning and innovative visual masterpieces. The results are a testament to the transformative power of AI in the modern era. #Art #IA Read More...
She's a model
She’s a model
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#jenniferlopez
#alexandradaddario #AngelinaJolie #MeganFox #margotrobbie
#chrisevans #ChristianBale #AnneHathway #BrieLarson
#ScarlettJohansson #elizabetholsen #JenniferLopez
#JenniferAniston #JenniferLawrence #priyankachopra
#KristenStewart #HaileeSteinfeld #emiliaclarke #galgadot
#wonderwoman #DC #mcu #MeganFox #kyliejenner
#kimkardashian #kendalljenner❤️❤️❤️
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A Reflection on the Fragility and Resilience of the Earth
The image presents two identical pictures of the Earth, side by side. The first image is labeled "Earth with you," while the second is titled "Earth without you." At first glance, one might be tempted to dismiss the image as a lighthearted commentary on the vastness of the world compared to the individual. However, beneath this simple comparison lies a profound reflection on the relationship between humanity and the planet.
The Illusion of Permanence
The Earth, as depicted in both images, appears unchanged, suggesting that whether we exist or not, the planet will continue to spin on its axis, indifferent to our presence. This notion can be comforting or unsettling, depending on one's perspective. On the one hand, it reassures us that the world will endure, even in our absence. On the other hand, it highlights the seemingly insignificant impact of a single human life in the grand scheme of things.
Yet, this simplicity can be misleading. While the Earth as a physical entity may continue to exist without us, the quality and character of the planet are profoundly shaped by our actions. The environment, ecosystems, and countless species are inextricably linked to human activity. "Earth without you" might remain visually identical to "Earth with you," but the hidden implications of this absence are monumental.
The Ripple Effect
The image invites us to contemplate the broader consequences of our existence. Every decision we make—be it in our consumption habits, energy use, or interactions with nature—sends ripples through the environment. These ripples can either contribute to the preservation and flourishing of life on Earth or lead to degradation and destruction.
Consider the impact of human-driven climate change, deforestation, pollution, and species extinction. Each of these global issues stems from countless individual actions, all of which, when aggregated, have the power to alter the very fabric of the Earth. The image, though simple, subtly suggests that while the Earth may look the same with or without us, the reality of its ecosystems, climate, and biodiversity is anything but unaffected by human presence.
The Responsibility of Stewardship
The comparison also serves as a reminder of the responsibility we carry as stewards of the planet. The Earth, in its beauty and complexity, is not just a backdrop to our lives but a living system that requires care and respect. Our role is not merely to exist on this planet but to contribute positively to its well-being.
The notion that the Earth might remain unchanged without us can also inspire a deeper sense of responsibility. It is a call to action—a reminder that our time here is finite, but our impact can be enduring. We have the power to shape the future of the planet, to leave it in a better state than we found it, or to contribute to its decline.
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