The stock market’s rally narrowed on Wednesday after President Donald Trump said he planned to unveil 25% tariffs on imports from Europe.
“We’ll be announcing it very soon, and it’ll be 25% generally speaking, and that’ll be on cars and all of the things,” Trump said. “European Union is a different case than Canada, different kind of case. They’ve really taken advantage of us in a different way.”
Though tech stocks led the Nasdaq Composite 0.3% higher, the S&P 500 was flat in recent trading. The Dow was down 225 points, or 0.5%.