EV Battery Costs Set For Sharp Rise On Trump’s Tariffs ...Middle East

OILPRICE - Economy

The U.S. stock market tanked for a second day running on Friday, with the S&P 500 falling -4.5% a day after U.S. President Donald Trump unveiled reciprocal tariffs, including a baseline 10% tariff applied on imports from all countries. The energy sector was one of the hardest hit by the tariffs, with the Energy Select Sector SPDR Fund (NYSEARCA:XLE) falling -7.4% on the day thanks to the ongoing oil price crash. Brent crude for June delivery fell -7.1% to trade at $65.47 per barrel at 11.50 am ET while WTI crude for May delivery declined…

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