Stocks tumble, dollar firm as Trump tariff threats ruffle markets
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World stocks fell to their lowest levels in six weeks on Friday, and the dollar hovered near multi-week highs, as the prospect of higher U.S. tariffs sent jitters through markets and revived concerns about a global trade war. Technology shares took an additional hit following a sharp sell-off in AI darling Nvidia and other so-called "Magnificent Seven" Wall Street mega-cap stocks, as investors judged the chipmaker's earnings report harshly a day after its release. U.S. President Donald Trump said on Thursday that 25% duties on imports from Canada and Mexico will come into effect on March 4 - not April 2 as he had suggested a day earlier - and said goods from China will be subject to an additional 10% duty. This week he also floated 25% tariffs on shipments from the European Union. "A market that had reduced its sensitivity to recent tariff headlines has had to reconsider that reaction function," said Chris Weston,...