The markets sank during the midday with the Dow crashing 495 points to 24,533. Nasdaq collapsed 118 points to 7154.
Target has partnered with boot maker Hunter to design a new line of apparel and accessories for the whole family. More than 300 limited edition items for men, women and children that are priced between $5 to $45 will be available beginning on April 14 at select stores and online at Target.com. The collaboration will also produce a collection of outdoor goods such as camping supplies, coolers, and hammocks.
President Donald Trump announced plans to impose steep tariffs on steel and aluminum imports in order to protect American companies. A 25% tariff will be imposed on imported steel while 10% will be imposed on imported aluminum. Some U.S. manufacturers have criticized the plan saying that prices will climb while economists warned that the tariffs will trigger a trade war with China.
Kroger has joined Dick's Sporting Goods and Walmart to become the third major retailer to raise the minimum age for a customer to purchase a gun. The grocery store chain's Fred Meyer stores will no longer sell guns and ammunition to people under the age of 21. Fred Meyer stores in Idaho, Oregon and Washington stopped selling assault-style rifles several years ago and its stores in Alaska will not longer fill special orders for those type of weapons.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 plummeted 44 points to 2,713. Bitcoin rocketed $470 to $10,879.
