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Wall Street Dips as Trump Unveils New Tariffs

6/12/2025

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Summary

Story summary

Wall Street faced challenges on Wednesday, with the S&P 500 declining by 0.3% and Nasdaq by 0.5%, breaking a three-day winning streak.
The bond market experienced a rally as May's consumer price index increased by 2.4%, falling short of economists' predictions.
President Trump revealed a 55% tariff on Chinese goods, merging existing and new tariffs, disappointing market expectations for reductions.

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Story summary

Wall Street faced challenges on Wednesday, with the S&P 500 declining by 0.3% and Nasdaq by 0.5%, breaking a three-day winning streak.
The bond market experienced a rally as May's consumer price index increased by 2.4%, falling short of economists' predictions.
President Trump revealed a 55% tariff on Chinese goods, merging existing and new tariffs, disappointing market expectations for reductions.