President Donald Trump is sounding an upbeat note about his tariffs even as the stock market reacted by falling more than 1,600 points.

The stock market is plunging. The US financial market spiraled after President Donald Trump imposed tariffs on Thursday, with fear and uncertainty being felt from Wall Street to Main Street.

President Donald Trump says his trade policies will never change despite sending the global economy into a tailspin by announcing tariffs on foreign imports.

Markets are facing their worst crisis since the COVID crash after China matched President Donald Trump’s big raise in tariffs following the president's "liberation day" announcement.

Trump also slammed China, which retaliated against his sweeping tariff policy Friday with a new 34% tariff on U.S. goods.

China threatened to retaliate with its own tariffs. Stocks fell across multiple indexes by the most in five years. Economists upped their bets that the U.S. economy may soon face a recession, and the Federal Reserve chair said the U.

Duke Energy was the lone Fortune 500 company in Charlotte to see its share price rise at the end of the trading day Thursday.

Donald Trump administration’s tariffs “could have a persistent impact on inflation," warned Federal Reserve Chairman Jerome Powell.

President Trump is going full bore on tariff hikes, aiming for a fundamental transformation of the economy. The stakes are huge for U.S. businesses and the stock market.