Wall Street is experiencing a downturn amid rising concerns over President Trump's announcement of new tariffs, which are expected to exacerbate inflation. The Dow, S&P, and Nasdaq indices have all been affected as the market grapples with weak job growth and declining consumer confidence. Experts have noted that Trump is 'unabashedly pro-tariff', suggesting that investors may be underestimating the associated risks. The tariffs, set to be implemented next week, include a 25% levy on steel and aluminum, which could push U.S. inflation to 4% within a year. Financial markets are likely to remain volatile in the short term due to uncertainties regarding interest rates and the implications of these tariffs.