NATIONWIDE – The Dow is down and President Trump wants tariffs to go up.
Thursday the Dow finished down 724 points, nearly 3 percent, closing at 23,958. It was the fifth biggest total point drop ever still leaving the Dow down only about 10 percent from its all-time high in January. The S and P 500 lost 2.5 percent. The NASDAQ was down 2.4 percent.
A big part of the slide, talk of tariffs. President Trump wants billions of dollars in tariffs against China. Experts say that could mean higher prices for consumers on everything from smartphones, to washing machines.
Citigroup is putting restrictions on how guns are sold. It’s the first big bank to dictate to business customers that sell guns that buyers must be at least 21 and pass a background check. Citigroup is also banning its customers from selling bump stocks.
And there s a push to save Toys R Us, as toy company executive Isaac Larian, who heads the company that makes Bratz Dolls is launching a crowd funding campaign to try to keep hundreds of Toys R Us stores open.