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side swiped caught off guard on welcome and unexpected just some of the phrases global investors used Friday in their reaction to a surprise tweet the US plans to slap tariffs on Mexican imports until immigration is curtailed at the southern border the Dow Jones industrials dropped as much as three hundred points at the open following on the heels of sharp drops across Europe and Asia I'm calling is in New York the threat of tariffs on Mexican goods is throwing another wrench into the global trade machine at a time when the world is already on edge because of the trade war between Washington and Beijing of particular concern is the rationale of this threat it looks like the White House is willing to use economic measures to tackle non economic problems Friday's fall making a terrible month for stocks even worse US stocks on track for their biggest monthly drop of the year many factors with big exposure to Mexico hit the hardest that includes Ford and General Motors as well as other global automakers drinks import a consolation brands and transport companies like Kansas city southern posted losses as well anxiety over the global economy causing a further stampede into the perceived safety of government debt around the world bond yields in the U. S. moving closer to two year lows the demand for safe place to hide money is so intense some global investors are willing to buy European and Asian bonds with record low negative returns the market jitters putting a spotlight on the federal reserve which earlier this year about to be patient before making any rate moles but bats are piling up on Wall Street the fed's next move will be to lower rates JP Morgan chase told clients Friday it now predicts the fed will cut rates twice before this year's out on believe storm clouds from trump straight fights will likely slow