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06 February

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Dow drops more than 400 points after Trump announces tariffs

The Dow dropped 420 points on Thursday after President Trump said his administration will impose tariffs on steel and aluminum imports. The Nasdaq and the S&P 500 declined 1.3% apiece. Trump's controversial tariff announcement caught investors off guard and immediately raised concerns about retaliation from China or other major U.S. trading partners.

Tariff winners and losers: U.S. Steel spikes, Ford retreats

Wall Street is already handing out verdicts on who will win and who will lose if President Trump follows the Commerce Department's recommendations to impose heavy tariffs on steel and aluminum imports. American steel stocks spiked on Friday immediately after the Commerce Secretary Wilbur Ross proposed actions aimed at reviving the beleaguered steel industry.

The bond market scare might not be over

During scary times, cash usually flees into the arms of Uncle Sam. Yet during the stock market mayhem of the past two weeks, not even safe U.S. Treasury bonds were spared. The Dow plunged 2,400 points, or 9%, between January 26 and February 9 as investors fretted about the threat of inflation. But in a twist, investors sold bonds, too. The yield on the 10-year U.S. Treasury note, which moves opposite the price spiked from 2.62% to 2.85%. Then it inched higher again on Monday because investors kept selling bonds, even while they drove the Dow up 400 points.

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