Why Cleveland-Cliffs Stock Got Hammered Today, Even Though Trump's Tariffs Were Supposed to Help Steelmakers

Be careful what you wish for.Shares of U.S. steelmaker Cleveland-Cliffs (CLF -16.90%) plunged 16.9% on Thursday, which was significantly worse than the 4.8% plunge experienced by the S&P 500 index.Some might be confused as to why Cleveland-Cliffs, a domestic steel supplier, would be down so much on last night's sweeping tariff announcements from the Trump administration. After all, Cleveland-Cliffs is one of the larger domestic steel producers in the United States. So aren't the administration's tariff poli ...