Trump's Tariffs Shake Global Markets

President Trump's new tariffs, which took effect against 86 countries, have sent shockwaves through global markets. The S&P 500 saw its fourth consecutive day of significant volatility, with a trading range exceeding 5%. This level of market turbulence has only been seen during major financial crises in 1987, 2008, and 2020. The tariffs have raised the US average effective tariff rate to over 20%, the highest in more than a century. As a result, major indices like the Nasdaq, S&P, and Dow have all experienced declines, with tech giant Apple facing significant losses due to its reliance on Chinese manufacturing.