President Donald Trump’s sweeping new tariffs are facing blowback from all corners – a market sell-off, foreign retaliation, anger from corporate America and skepticism from the Federal Reserve chairman and some allies in Congress.

Fallout continues after President Donald Trump's unveiling of severe tariffs against virtually all U.S. trading partners. Thursday was the worst day for U.S. stock markets since June 2020. China struck back on Friday, announcing a 34% tariff on American goods as other foreign leaders weigh their response.

The S&P 500 tumbled 5.7 percent, and the Dow Jones Industrial Average plunged 2,054 points as Wall Street’s worst crisis since the COVID crash deepens.

The U.S. dollar sank against major peers on Thursday, dropping to six-month lows against the euro, and the safe haven yen and Swiss franc, as investors grappled with how U.S. President Donald Trump's far-reaching tariffs will impact global trade and economic growth.

Global markets on Thursday were severely rattled by President Donald Trump’s historic tariff announcement, which threatens to throw the US and the rest of the world into a recession.

Financial markets around the world are reeling following President Trump’s latest and most severe volley of tariffs, and the US stock market is taking the worst of it so far.

After a day of stock market shocks and global recriminations, there are reasons to question whether President Donald Trump fully grasps the consequences of the tariff barrage that he used to fire up a global trade war.

Continued worries about the disruption of President Trump’s trade policies and retaliation by major trading partners, overshadowed an unexpectedly strong report on the U.S. labor market.

S&P 500 companies lost a combined $2.4 trillion in stock market value in Thursday's selloff, their biggest one-day loss since the pandemic sent global markets into a tailspin on March 16, 2020.