Initial market indications early Wednesday evening were that many investors had expected Trump’s tariffs to be far less expansive.

U.S. President Donald Trump further escalated a trade war on Wednesday by announcing he would impose reciprocal tariffs to match duties put on U.S. goods by other countries. "It's our declaration of independence,

Asian markets and U.S. futures tumbled Thursday following U.S. President Donald Trump’s announcement of big increases in tariffs on imports of goods from around the world.Tokyo’s Nikkei 225 index initially dipped more than 4%,