U.S. stocks declined in after-hours trading following President Donald Trump’s announcement of sweeping tariffs ranging from 10% to higher rates for certain countries. This development heightened concerns about a potential global trade war impacting the U.S. economy. The SPDR S&P 500 ETF Trust (SPY) fell approximately 2%, while the Invesco QQQ ETF dropped 3.3%. Companies heavily reliant on imports, such as Nike and General Motors, saw significant declines. Trump stated that the tariffs would not fully reciprocate but would instead reflect a halved figure of combined rates and non-monetary barriers. Market analysts expressed concerns over the complexity and severity of the tariffs, which could lead to further volatility.
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