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The Stock Market’s “Oh ****” Moment
Apr 4, 2025
Rebecca Jarvis, ABC's chief business and economics correspondent, joins Devin Dwyer, ABC senior Washington reporter, to discuss the stock market's turmoil following President Trump's tariff announcement. They dive into the ripple effects on global markets and American industries, particularly manufacturing and tech. The conversation also uncovers the judicial challenges surrounding deportation flights and the complex negotiations over TikTok's future in the U.S., adding layers to an already tense political climate.
29:08
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Quick takeaways
- The announcement of tariffs by President Trump triggered a major sell-off in global stock markets, especially affecting companies like Nike and Apple.
- Legal and ethical concerns arose from the Trump administration's deportation flights, prompting a federal judge to challenge government compliance with court orders.
Deep dives
Impact of Tariffs on the Stock Market
The announcement of new tariffs by President Trump led to a significant decline in stock markets both in the U.S. and around the world, marking one of the biggest global sell-offs in years. Immediately following the announcement, companies across multiple sectors, particularly those relying on international supply chains, reported sharp drops in their stock prices. For instance, brands like Nike and Apple, which depend heavily on overseas production, faced severe impacts, prompting concerns about rising product costs. Analysts suggested that if manufacturing were to move back to the U.S., product prices could potentially skyrocket, deepening worries about the economic implications for consumers and businesses alike.
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