Market Turbulence as Tariff Announcement Looms

The S&P 500 and Dow experienced declines following the White House's announcement of impending tariffs on Canadian, Mexican, and Chinese imports. Investors, already anticipating tariff updates, saw the Dow drop by 257.03 points. Meanwhile, unchanged interest rates from the Federal Reserve align with steady inflation data.

On Friday afternoon, the S&P 500 and Dow Jones Industrial Average faced declines as the White House confirmed President Trump's imminent implementation of new tariffs on a range of foreign imports.

Sources hinted the tariffs, impacting Canadian, Mexican, and Chinese goods, might see delayed collection. Despite steady U.S. inflation in December, economic conditions pushed the Fed to maintain current interest rates.

The Dow fell by over 257 points, and while Nasdaq saw minor gains, traders bet heavily on a June resumption of rate cuts following inching inflation and consumer spending growth.

(With inputs from agencies.)