Reported about 21 hours ago
Stocks of major U.S. banks dropped significantly on Thursday following President Trump's new tariff announcement, raising concerns about the potential impact on the financial sector and increasing fears of a recession. The banking index fell by approximately 10%, marking its worst day since March 2023, with individual stocks like JPMorgan, Citigroup, and Goldman Sachs seeing declines between 7% and 12%. Analysts are worried about how policy changes could hinder expansion and growth in the industry.
Source: YAHOO