The Dow dropped 420 points on Thursday after President Trump said his administration will impose tariffs on steel and aluminum imports. Trump said his administration would impose a 25% tariff on steel imports and a 10% tariff on aluminum. Corporate America has warned Trump that tariffs could backfire. Another major aluminum maker, Alcoa (AA), gained 1%. Trump has repeatedly threatened to tear up this major trade deal with Canada and Mexico.

Source: CNN March 01, 2018 19:01 UTC