President Donald Trump encouraged U.S. consumers to “hang tough” amid tariffs against foreign goods since his administration began collecting on them.
The encouragement was needed due to a six-week slump in the S&P 500. On the stock market close Friday, the day before the 10% baseline tariff began, it dropped 10.5%, which is the lowest point since April 2024. This result has prompted some panic, which Trump addressed with a Truth Social post.
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