At approximately 2:45 PM in Lisbon, the Dow Jones decreased by 0.26% to 41,880.78 points, while the broader S&P 500 lost 1.06% to 5,573.40 points.
Similarly, the Nasdaq fell by 0.27% to 17,402.12 points.
In the same vein, major European stock exchanges were trading lower today, with focus on the specifics of the announcements by U.S. President Donald Trump regarding tariffs.
At 8:55 AM in Lisbon, the EuroStoxx 600 was down 0.63% to 536.22 points.
The stock exchanges in London, Paris, and Frankfurt were down by 0.30%, 0.63%, and 1.01% respectively, while Milan increased by 0.81%.
Madrid was the exception, rising by 0.11%.
The Lisbon stock exchange continued its opening trend, with the main index, PSI, down by 0.32% to 6,928.09 points at 8:55 AM.
Trump’s new tariffs, which he referred to as arriving on “Liberation Day,” aim to boost the U.S. industry while punishing countries for what he described as years of unfair trade practices.
However, most economists believe the tariffs threaten to plunge the economy into a recession while simultaneously destroying decades-long alliances.
The reciprocal tariffs Trump plans to announce follow recent similar announcements of 25% tariffs on car imports, tariffs against China, Canada, and Mexico, and extended tariffs on steel and aluminum.
Trump has also imposed tariffs on countries importing oil from Venezuela and plans separate import taxes on medicines, lumber, copper, and computer chips.
Markets have been particularly volatile in recent days, with fluctuations occurring hourly due to uncertainty surrounding Trump’s tariffs, how they will exacerbate inflation, and impede economic growth.
Gold, a safe haven for investors during turbulent times, has been trading at historic highs.
Wall Street closed with mixed results on Tuesday, awaiting Trump’s final decision after weeks of threats and uncertainty.
The Dow Jones ended down by 0.03% to 41,989.96 points, compared to its all-time high of 45,014.04 points on December 4, 2024.
The Nasdaq, an index of high-tech stocks, closed up by 0.87% to 17,449.89 points, against its all-time high of 20,173.89 points seen on December 16, 2024.
