Reported 1 day ago
Bank stocks experienced a significant decline after President Trump's announcement of sweeping tariffs on U.S. imports, including a 10% tariff on all imported goods, which raised concerns about economic growth and inflation. The KBW Nasdaq Bank Index dropped over 9.8% amid fears of recession and uncertainty in global trade, with Citigroup suffering the largest losses at 12%. Analysts predict those tariffs could hinder business investments and increase pressures on the economy.
Source: YAHOO