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US stocks tank and dollar slumps as Trump tariffs hit trading

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US stocks have suffered steep falls with the top index tanking to a six-month low shortly after opening, as Donald Trump’s tariffs reverberated through the world’s financial markets. The S&P 500 plummeted about 4% to 5,440 shortly after markets opened in Wall Street – hitting the lowest level since September. The Dow Jones tumbled around 3.6%, while the technology-focused Nasdaq index plunged nearly 5%.

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