Why Morgan Stanley Stock Sank Today
Shares of Morgan Stanley (NYSE: MS) fell on Thursday. The wealth management and investment banking giant's stock lost 9.5% as of market close and was down as much as 10.4% earlier in the day. The decline comes as the S 500 and had their worst day in years.
President Donald Trump's dramatic tariff announcement has sent shockwaves through financial markets, hitting investment banks particularly hard.
Morgan Stanley shares are under pressure following President Trump's announcement of sweeping new tariffs that threaten to upend global trade. The new levies include a 34% tax on Chinese imports, 20% on European Union goods, and a baseline 10% tax on all countries -- representing what economists are calling the most significant trade action since the 1930s.
Source Fool.com
