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US stocks plunged after President Trump announced a baseline 10% tariff on all US trading partners, sending shockwaves through markets and the global trade order.

(Bloomberg) -- European stocks headed for their worst drop since August after US President Donald Trump announced the steepest tariffs in a century, including a 20% rate for the European Union.Most Read from BloombergMetro-North Is Faster Than Acela on NYC-New Haven Route After Signal UpdatesLondon Clears Final Hurdle for More High-Speed Trains to EuropeLocal Governments Vie for Fired Federal WorkersChicago School District Agrees to Minimum 16% Teacher Pay RaiseWhat Would ‘Transportation Abundan

Investors should consider defensively oriented consumer stocks over disrectionary shares after President Trump's latest tariff announcement, Oppenheimer analysts said Thursday.

Acuity shares dropped Thursday after the industrial technology company's fiscal second-quarter revenue and profit came up short of analysts' estimates.

Volkswagen is launching a new version of its Amarok mid-size pick-up truck targeted at the South American market from 2027, the carmaker said on Thursday, in the latest example of auto industry players localising production. VW is investing $580 million to refit its Pacheco plant in the province of Buenos Aires, which has produced an older version of the Amarok since 2010, towards producing the new design, it said.

In a day of broad stocks declines as President Donald Trump’s tariffs rattle markets, shares of one major European drinks maker are holding up.

Financial markets around the world are reeling Thursday following President Donald Trump’s latest and most severe volley of tariffs, and the US stock market may be taking the worst of it.View on euronews