The value of the U.S. dollar dropped to a three-year low on Friday, according to Forbes and the U.S. Dollar Index (DXY) — which measures the value of the dollar against a number of foreign currencies.
DXY showed the value fell to 99.01 around 5 a.m. ET, bringing the dollar's year-to-date decline to 8%.
Forbes reported that most of the value drop came after President Donald Trump's tariff announcement last Wednesday, which he dubbed as "Liberation Day."
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President Trump's yo-yo tariff actions over the last week have also sent the stock market into turmoil.
Stocks saw a major rally in response to President Trump's announcement that he was suspending tariffs for 90 days on many U.S. trade partners — excluding China — on Wednesday.
The following day, all three major indexes dropped as more retaliatory Chinese tariffs went into effect.
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