Global stocks are sliding after President Trump’s new tariff announcement, with S&P 500 futures down nearly 1% and major indices worldwide falling. Analysts warn the true impact of these tariffs will hit the U.S. economy in the coming months through higher costs for companies and consumers. Import taxes are now at their highest since the 1930s.

U .S. stocks closed markedly lower on Friday, a day after President Donald Trump signed an executive order slapping new tariffs on dozens of countries. A weak jobs report worsened investor jitters, revealing a slowdown of hiring over recent months as Trump's previous tariffs took hold.