Stock Market Decline in New York Due to 50% Tariffs on Canadian Aluminum and Steel

The stock market started off negatively today (March 11, 2025). Shares in New York were under pressure as President Donald Trump announced that tariffs on Canadian steel and aluminum products would be increased to 50%, in retaliation for Ontario’s move to impose tariffs on electricity sent to the U.S. The S&P 500 extended its decline from its historical high to 9.5%. The dollar also weakened. The S&P 500 fell by 1.22%. The Nasdaq lost 0.78%. The Dow Jones slid by 1.59%. The yield on 10-year government bonds had a slight change at 4.21%.