Global stock markets fell significantly, and investors fled U.S. stocks following President Donald Trump's announcement of new tariffs.

The Details: President Trump announced a flat 10% tariff on all trading partners, along with reciprocal tariffs that would tax many trading partners more than 20%. After the announcement, the U.K.'s FTSE 100 index fell 1.5%, and other European markets followed suit, reflecting earlier falls in Asia. Gold, considered by many as a safer asset in times of turbulence, reached a record high.

For Context: The new tariffs include a 54% tariff on U.S. imports from China and 46% on goods from other key countries. The announcement was met with concern by investors, who fear the tariffs could stoke inflation and stunt growth.

How The Media Covered It: NBC News (Lean Left bias) focused on the immediate impact on U.S. stocks and companies that rely on global supply chains. They cited the fall in the shares of companies like Apple, Amazon, and Walmart. BBC News (Center bias) focused on the global reaction to the tariffs and highlighted the concerns raised by traders about the potential impact on inflation and economic growth. Stock market reaction was an angle covered less prominently by sources from the right, though Fox Business (Lean Right bias) reported that the Dow plunged over 1,000 points on Trump tariff concerns and is providing updates on the markets.

Revised by the AllSides staff (of humans) after a first draft from our custom AI. Learn more. Suggest an improvement to this summary.