BREAKING: Donald Trump Signs a TikTok Extension as Market Continues to Crash

U.S. markets continue to plunge Friday afternoon as Donald Trump’s aggressive new tariffs sparked panic on Wall Street. The Dow Jones Industrial Average has collapsed by 1,612 points, while the NASDAQ dropped 4.8%.

The sharp declines come on the heels of a sweeping White House move to impose tariffs on over billions worth of imports, with targets including China, India, and key Southeast Asian economies. The new measures are part of Trump’s broader effort to overhaul the global trade structure and repatriate industrial supply chains.

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The U.S. stock market has now lost more than $9 trillion in value since Trump’s inauguration in January.

In response to the escalating trade tensions, Federal Reserve Chair Jerome Powell issued a rare public warning, stating that the tariffs are likely to raise inflation. Powell added that the economic impact of the tariffs is likely larger than previously expected, raising concerns about potential stagflation as rising prices collide with slowing growth.

Meanwhile, Trump extended the deadline for TikTok’s U.S. divestment by 75 days, allowing the Chinese-owned app to continue operating despite longstanding concerns over data privacy and influence operations.

The combination of economic disruption and political unpredictability is fueling fears of prolonged instability in both domestic markets and international relations. With inflation pressures mounting and investor confidence shaken, all eyes are now on how the Fed and Congress will respond to an increasingly volatile economic landscape.