U.S. stocks seesawed on April 7, as investors embarked on the first day of trading after President Donald Trump’s baseline 10 percent tariffs on imports went into effect.
After opening sharply down, markets were gripped by volatility fueled by social media speculation that Trump was considering a 90-day pause on tariffs for all countries except China. The White House later described those reports as “fake news” in a post on social media.
