Trump’s 25% Auto Tariffs Roil Markets, Trigger Big Tech Selloff

The newly announced tariffs, set to take effect in April, have spurred fears of global trade retaliation and sent Tesla and Nvidia stocks tumbling over 6%.

President Donald Trump announced a 25% tariff on car imports, effective in April, aimed at boosting U.S. manufacturing but raising concerns over global supply chains.
The announcement caused significant volatility in U.S. stock markets, with the S&P 500 falling 1.1%, the Nasdaq dropping 2%, and the CBOE Volatility Index spiking 10%.
Tesla and Nvidia stocks each declined over 6%, erasing a combined $254 billion in market value, as concerns over regulatory challenges in China and trade retaliation grew.
Japan and Canada have signaled the possibility of retaliatory trade actions, while automaker shares, including General Motors and Ford, experienced sharp declines.
The tariffs are projected to generate $100 billion annually but could lead to increased costs for automakers reliant on international supply chains, exacerbating fears of a broader economic slowdown.

The Salt Lake Tribune