Tariffs: It's a bad day for the US markets

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  Punk table.

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  Hello and welcome to your World Business Report from the BBC World Service.

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  I'm Rahul Tanden.

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  Plenty coming up on this edition

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  as we continue to look at what is a pretty uncertain global economy.

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  We'll be looking at what the impact of tariffs is having on that

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  and also hearing how they're affecting small businesses.

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  There's no question that Trump's tariff tantrum has lit a fire underneath both the European Union

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  and India to try and strike a deal.

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  But let us start off on Wall street where uncertainty over tariffs

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  and its impact on the world's largest economy has meant

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  that it's been a bad day on the markets.

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  The Nasdaq suffered its worst day in several years, closing at the end down 4%.

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  The Dow Jones was, well, it slipped by 2%.

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  Here's our north of America business correspondent, Erin Delmore.

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  It has been a brutal day on Wall street, just a bruising trading day for stocks and it's widespread.

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  We're seeing declines in consumer discretionary stocks in airlines, apparel,

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  even the tech darlings that really floated this enthusiasm

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  and exuberance around trading for much of last year.

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