(NEW YORK) — The stock market fell in early trading on Tuesday, just hours after the Trump administration’s long-promised tariffs took effect.
The Dow Jones Industrial Average dropped nearly 500 points, or 1.1%; while the S&P 500 fell 0.8%. The tech-heavy Nasdaq inched down 1.1%.
The policy taxes imports from Mexico, Canada and China — the three largest trading partners of the United States — meaning that it could raise prices for everything from gasoline to avocados to iPhones.
This is a developing story. Please check back for updates.
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