The Street 👎 to Trump tariffs

NEW YORK (AP) — Wall Street swung between sharp and more modest losses on Monday as stock markets worldwide sank on concerns President Donald Trump’s tariffs may ignite a punishing trade war.

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The ultimate fear is that Trump’s tariffs will push up prices for groceries, electronics and all kinds of other bills for U.S. households, putting upward pressure on a U.S. inflation rate that’s largely been slowing since its peak three summers ago. Stubbornly high or accelerating inflation could keep the Federal Reserve from cutting interest rates, which it began doing in September to give the U.S. economy a boost.