US Stock Markets See Worst Day Since Covid Pandemic
The U.S. stock markets experienced their worst day since the Covid pandemic, sparked by an announcement from Donald Trump regarding new tariffs, leading to significant losses across major indices. The consequences included a $470 billion decrease in market value for major tech firms like Apple and Nvidia.
Key Points
- The Nasdaq dropped by 6%, while the S&P 500 and Dow Jones fell by 4.8% and 3.9%, respectively.
- The announcement of tariffs triggered a global selloff, impacting stock markets worldwide, including a decline in Japan’s Nikkei index.
- The US dollar fell to a six-month low, and oil prices decreased amid fears of a global economic slowdown.
- Major US business groups, such as the Business Roundtable, urged the government to remove the tariffs, citing potential harm to the US economy.
- The tariffs could lead to retaliatory measures, increasing the damage to American manufacturers and families.
Why should I read this?
This article highlights the volatility of the US stock market and the potential long-term economic repercussions of government trade policies. Understanding these developments is crucial for investors and stakeholders who need to navigate the fluctuating market landscape and assess the risks associated with new tariffs and economic uncertainty.
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