President Donald Trump’s tariffs wreaked havoc on global markets Wednesday, causing U.S. government borrowing costs to surge while stocks saw choppy trading even as China ratcheted up retaliatory tariffs.
The major U.S. stock indexes swung back and forth after the opening bell, reaching positive territory as of about 10 a.m. ET.
Meanwhile, European Union officials have approved imposing a fresh set of retaliatory duties on U.S. imports.
The duties, which would come into effect April 15, would range from 10% to 25% on more than $24 billion worth of U.S. goods, including tobacco, motorcycles, poultry, steel and aluminum.
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