Job Growth Beats Expectations
U.S. job growth surged in March with 228,000 new positions, beating expectations and signaling a still-resilient labor market. However, the unemployment rate rose slightly to 4.2% as more people entered the workforce. Markets remained focused on President Trump’s new tariffs, sparking fears of a trade war that could slow future hiring. While sectors like healthcare led job gains, uncertainty about the impact of tariffs clouds the economic outlook despite solid current data.
Trump Tariff Plan Sparks Trade War Fears
President Trump announced sweeping new tariffs, including a 10% baseline on all imports and higher rates on countries with large trade deficits like China and the EU. The move, framed as “economic independence,” risks raising prices for U.S. consumers and slowing economic growth. Many foreign governments, including U.S. allies, vowed retaliation, heightening fears of a global trade war. Markets reacted sharply, while American businesses and lawmakers expressed concern over rising costs and potential recession impacts.
Markets Drop – Tech Sell Off
The major stock market indices faced major declines on Thursday and Friday after President Trump announced new tariff measures aimed at reshaping global trade relationships. Apple led the pullback, falling more than 9%, while the Nasdaq Composite lost 6% for its biggest one-day drop in over five years. Semiconductor companies and PC makers were among the most affected, as many rely on international manufacturing and supply chains. Markets are closely watching how global trade partners respond as China and others signal potential countermeasures. Despite near-term market pressure, Trump highlighted plans by U.S. companies — including Apple — to increase domestic investment, calling the new policies a step toward greater economic independence for the country.
