Trump Announces Global Tariff, Sparks Market Volatility

As of March 2026, President Donald Trump announced a proposed 15% global tariff while a federal judge ordered billions in tariff refunds to small businesses, and DHS Secretary Kristi Noem was replaced by Senator Markwayne Mullin. Markets reacted across equities, ETFs and crypto—SPY, DOW, NASDAQ fell while VIX spiked and bitcoin rallied—raising cross-sector uncertainty and prompting corporate shifts, legal challenges from 24 states, and supply-chain adjustments.