Stock market plummets after Trump's tariff announcement

Trump is ready to impose tariffs on steel and aluminum, but the stock market apparently isn’t on board.

Trump announced his plan to add new tariffs on steel and aluminum imports, and the stock market took a bit of a dive…

The market was higher before the announcement because of a statement given by Jerome Powell, the Federal Reserve Chairman. Powell eased one of the main worries when he said he did not see inflation in workers’ wages “at a point of acceleration.” However, all that was negated when Trump decided to impose tariffs starting next week.