Trump's steel and aluminum tariffs cause stock market declines, with the S&P 500 falling 0.9%.

US President Trump's announcement of a 25% tariff on steel and aluminum imports has caused shares of metal companies to decline, with the BSE Metals index falling 3.12%. The tariffs are expected to add around $25 billion annually to import costs. Despite these concerns, Asian markets showed mixed reactions, with Japan's Nikkei 225 dropping 0.1% and Chinese indices rising. The S&P 500 fell 0.9%, the Dow Jones Industrial Average dropped 1%, and the Nasdaq composite fell 1.4%. Treasury yields rose, reflecting concerns about potential price increases for US consumers.

5 weeks ago
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