Steel and aluminum tariffs trigger sharp US stock market sell-off

Lazy steel industrialists used earlier tariffs of the 1950s and 1960s to let Europe and Japan out innovate the US steel industry. All this will do is up profits for stockholders of few US steel companies left, raise costs of housing, and will increase jobs by $00.00!

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The threat of a trade war with China led the Dow Jones to lose over 570 points and the S&P 500 and Nasdaq both to drop close to 2%

US stock markets tumbled on Thursday after Donald Trump said the United States would impose tariffs of 25% on steel imports and 10% on imported aluminum next week.

The threat of a trade war with China and higher goods prices led to a sharp sell-off with the Dow Jones Industrial Average losing over 570 points (2.23%) and the S&P 500 and Nasdaq both dropping close to 2%.

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