US stocks resume sell-off as traders fret over tariffs

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The story "US stocks resume sell-off as traders fret over tariffs" was covered 2 weeks ago by Financial Times, a news publisher based in United States.

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Financial Times 2w ago

US stocks resume sell-off as traders fret over tariffs - Financial Times

Quick Summary:

Tuesday’s swings were the latest bout of turbulence in US stocks after Trump last week announced a plan to impose steep tariffs on dozens of countries, threatening to ignite an all-out trade war.

The Treasury department auctioned off $58bn of three-year notes on Tuesday to weak demand, fuelling fears that investors were stepping back from the Treasury market in response to President Donald Trump’s tariffs.

A day earlier, Trump threatened to hit China with a 50 per cent additional tariff, after Beijing last week said it would match his “reciprocal” duty of 34 per cent.