
Wall Street falls after Trump’s tariffs, but not as badly as feared in the morning
LA TimesTraders work on the floor at the New York Stock Exchange on Wednesday. The ultimate fear haunting Wall Street is that Trump’s tariffs could push up prices for groceries, electronics and all kinds of other goods for U.S. households, adding upward pressure on a U.S. inflation rate that’s largely been slowing since its peak three summers ago. Much of Wall Street had been hoping Trump’s talk of tariffs through the presidential campaign was just that, talk, and an opening point for negotiations with U.S. trading partners instead of a permanent policy. An escalating trade war can send stocks skidding, as Monday morning quickly demonstrated, and “significant stock market volatility could lead to a change in approach,” said Solita Marcelli, chief investment officer for the Americas at UBS Global Wealth Management. Trump’s tariffs took center stage in a week when other events would typically take the spotlight, including a report Friday showing how many workers U.S. employers hired last month.
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