Trump just upended the TACO Trade by signing an executive order with an updated list of tariffs that was tougher than markets were expecting.

President Donald Trump’s latest tariff moves drew worries from Wall Street Friday as stocks slumped and Treasury yields fell sharply. Trump signed an order Thursday night imposing steep tariffs on 66 countries,

The US imposed steep 25% tariffs on Indian imports, the highest in Asia, sparking market volatility. While initial concerns arose, analysts predict potential tariff reductions through negotiations, with a US trade delegation expected to visit India.