AB Wall Street tumbled to its worst day since the pandemic yesterday in response to President Trump’s major round of tariffs on U.S. imports, as countries reeling from the blow weighed countermeasures. Stocks in Asia and Europe also fell. Some European leaders vowed to retaliate after Trump slapped a 20 percent tariff on the E.U. “If you take on one of us, you take on all of us,” Ursula von der Leyen, the European Commission president, said. China, which faces a new 34 percent tariff on top of the blanket import tax imposed earlier this year, vowed to respond to “safeguard its own rights and interests.” Britain said that negotiations with the U.S. would continue. The S&P 500 fell 4.8 percent, its worst drop since June 2020, at the height of the coronavirus pandemic. The reaction suggested that the scale of the tariffs had come as a surprise. Apple led a tech sell-off, falling about 9 percent. - The New York Times
