Trump's tariffs caused U.S. stock market volatility

U.S. stocks experienced volatility this week due to new tariffs announced by Trump, including a 50% tariff on Canadian steel and aluminum. Initial market declines were mitigated by news of a potential ceasefire in Ukraine and progress on U.S.-Canada trade talks. Investor concerns about economic stability are rising, with small business uncertainty reaching a record high. Consumer sentiment has also worsened, with more households expecting financial difficulties, coinciding with increased inflation expectations linked to tariffs. Despite these challenges, the U.S. labor market remains strong, with steady job openings and hiring. However, analysts warn that potential federal layoffs and declining capital spending plans could further impact economic growth.