NEW YORK (NewsNation) — President Donald Trump's sweeping global tariffs have already begun to hit Americans' wallets. The tariffs, which have raised import taxes to their highest levels since the Great Depression, have sent ripples through Wall Street, with markets drifting to a mixed finish.

The S&P 500 slipped 0.1% after briefly climbing to the cusp of its all-time high Thursday morning. The Dow Jones Industrial Average dropped 224 points, or 0.5%, and the Nasdaq composite rose 0.3% to a record.

Worries that Trump’s tariffs are damaging the economy have grown, particularly after last week’s worse-than-expected report on the job market.

But hopes for coming cuts to interest rates by the Federal Reserve and a torrent of stronger-than-expected profit reports from big U.S. companies are

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