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“Tariff impacts are likely elevating prices paid by services sector companies”

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The turmoil was largely attributed to the announcement of drastic trade tariffs by Trump, which raised fears of a potential global recession.

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Main indexes of Wall Street ticked up in choppy trading, boosted by a jump in energy stocks, while investors assessed a key jobs report.

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The weakness was atypical as equities tend to do well in the last five trading days of December and into the first two days of January