Trump's tariffs hit US stocks hard, Nasdaq plunged more than 1,000 points
the U.S. stock market fell sharply in early trading on Thursday, with the Dow Jones Industrial Average plummeting more than 1500 points and the Nasdaq falling more than 1000 points. U.S. President Trump announced additional "equal tariffs" of 10% to 49% on almost all countries, which could trigger a global trade war and severely damage the already weak U.S. economy. The number of initial jobless claims in the U.S. unexpectedly dropped last week. Trump's tariffs and the OPEC+ production increase plan have caused oil prices to plummet. The Dow fell by 1543.14 points, or 3.65%, to 40682.18 points; the Nasdaq dropped 1004.16 points, or 5.71%, to 16596.89 points; and the S&P 500 index fell by 246.47 points, or 4.35%, to 5424.50 points.
Global stocks pay for Trump's tariff plan, with U.S. stocks performing worst since September 2022
global stock markets fell sharply on Thursday as US President Trump's comprehensive tariff plan kicked off a trade war with broad implications for the global economy. Public fears of rising prices, slowing economic growth, and even the possibility of a recession caused US stock indexes to plummet, marking their worst single-day performance since at least September 2022. Clothing and retail companies led the decline, with Williams-Sonoma, Ralph Lauren, and Deckers Outdoor all falling by over 17%. Tech and tech retail stocks such as HP, Best Buy, and Garmin also fell by at least 15%. The Magnificent 7 stocks that have led the market higher in the past two years also saw widespread declines, with Apple and Amazon both falling by over 8%. Over 400 stocks in the S&P 500 index declined.