President Trump announced the imposition of 'reciprocal tariffs' on all U.S. imports, setting a minimum rate of 10%. This declaration triggered a negative reaction across financial markets.
Investors expressed deep concerns about the broader economic implications of these tariffs, including potential slowdowns in global trade, increased consumer prices, and retaliatory measures from other countries.
Shares of AI-powered lending platform Upstart experienced a decline following the announcement, reflecting investor apprehension about the impact of trade tensions on the economic environment and consumer lending sector.
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