Wall Street was sharply lower Friday morning, with the Dow Jones Industrial Average set to open down almost 300 points as traders balanced the impact of President Donald Trump’s sudden imposition of a 5 percent tariff on all goods from Mexico.
Futures on the S&P 500 and Nasdaq Composite indices also fell, with a decline of 1.1 percent and 1.4 percent, respectively.
“On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied,” Trump tweeted late on Thursday, marking an escalation in his fight to build a border wall and stem the flow of asylum seekers.
[To read the original article, click here.]