US equities tentatively recover as EU and Canada threaten to hit back at Trump's tariffs

Tariffs 'not in our mutual interest'

US indices closed slightly higher on Wednesday (12 March) after several days of decline, after the European Commission promised to retaliate against President Donald Trump’s 25% tariff on imports of steel and aluminium.

According to data from MarketWatch, the S&P rose nearly 0.5% from the previous day, while the tech-heavy Nasdaq increased by 1.2% during the same period. However, both S&P 500 and Nasdaq futures were down 0.5% and 0.8%, respectively, in pre-market trading at the time of reporting. Stocks plunge as Donald Trump slaps tariffs on US trading partners Both indices have taken a significant dip in the past three months, with the S&P 500 down 7.9%, while the Nasdaq has seen a decrease of 11.9%, both declines fuelled by the unpredictability of Trump's tariff moves, who has imposed levies on...