Trump announced a minimum tariff of 10% on imports, with the tax rate running much higher on products from certain countries like China and those from the E.U.

Wall Street is wracked by major selling as investors bet against the sweeping new trade barriers. Japan’s main stock index and Europe’s Stoxx 600 each closed 2.7% lower.

The Trump administration's aggressive global tariff regime against imported goods from some of its closest allies has drawn strong reactions across the board.

Little was spared in financial markets as fear flared about the potentially toxic mix of weakening economic growth and higher inflation.

S&P 500 companies lost a combined $2.4 trillion in stock market value in Thursday's selloff, their biggest one-day loss since the pandemic sent global markets into a tailspin on March 16, 2020.

The dollar has dropped in value and the stock market is dropping amid President Trump’s tariff blitz. Rep. Brendan Boyle (D-PA) joins José Díaz-Balart to share his reaction to the economic decision, saying it doesn’t make “any rational sense whatsoever.

Stocks nosedived at the opening bell after President Donald Trump upended global markets by announcing tariffs on almost all imports coming into the United States. NBC News' Brian Cheung reports on how the markets are reacting to the tariffs.

Financial markets around the world are reeling following President Donald Trump’s latest and most severe volley of tariffs, and the U.S. stock market may be taking the worst of it. The S&P 500 was down 3.