U.S. stock markets cratered today following yesterday’s announcement of Donald Trump’s tariffs. The S&P 500 fell 4.84% closing at 5,396.52 – its worst one-day drop since June 2020. The Dow Jones Industrial Average plunged 1,679.39 points, or 3.98%, to close at 40,545.93 – also its worst since June 2020. And the Nasdaq Composite declined 5.97% closing at 16,550.60, its biggest drop since March 2020. 
From the New York Times:
Thursday’s decline came after the S&P 500 had already fallen for five of the last six weeks, amid intensifying economic concerns pressured by tariff talk. But the effects won’t be limited to the financial markets, experts said.
Economists predicted that tariffs would raise prices for consumers and businesses, which will lead employers to pull back on hiring and, if the tariffs remain in place long enough, lay off workers.
So, Much. Winning.
Breaking News: President Trump’s sweeping tariffs fueled the steepest stock market sell-off since 2020, with the S&P 500 plunging nearly 5%.
— The New York Times (@nytimes.com) April 3, 2025 at 1:17 PM
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