Stock markets drop as Trump unleashes new round of global tariffs

By

Rafael Nam

Stocks slumped after President Trump unveiled a new round of global tariffs and after the U.S. created fewer jobs than expected in July.

Stock markets opened sharply lower on Friday after President Trump unveiled steep tariffs on a wide range of countries, sparking concerns about how these import taxes would impact the U.S. and the global economies.

A weaker-than-expected labor market report contributed to the losses, with employers creating only 73,000 jobs in July, fewer than economists had expected.