Trump’s Tariff Shift Still Has Markets, Industries Panicked

The president demurred when asked about the stock selloff, saying he hadn’t seen details and directed Treasury Secretary Scott Bessent to answer a reporter’s question during a cabinet meeting.Photographer: Michael Nagle/Bloomberg

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By Catherine Lucey and Josh Wingrove

April 11, 2025 at 10:00 AM UTC

Updated on

April 11, 2025 at 2:20 PM UTC

This article is for subscribers only.

President Donald Trump is casting his latest tariff plan as a strategic win. Markets and business leaders only see more chaos ahead.

Stock plunged on Thursday, as anxiety spiked among investors again worried an extended period of trade hostility could devastate the global economy. That washed away a half-day of euphoria on Wall Street on Wednesday after Trump paused higher tariffs on dozens of nations.