US equities plunged on Thursday
US equities plunged on Thursday, as trade uncertainty and tariff policy shifts from the Trump administration fueled investor anxiety. The S&P 500 fell 1.8% and the Nasdaq sank 2.6%, both hit their lowest level since November, while the Dow Jones dropped 428 points. Tech stocks led the decline, with Marvell Technology sinking 19.8% after a disappointing AI-driven sales forecast, dragging Nvidia (-5.7%), Broadcom (-6.3%), and AMD (-2.8%) lower. Investors had hoped for relief after the White House announced a one-month tariff delay on some Mexican and Canadian goods, but market sentiment remained fragile. Treasury Secretary Scott Bessent’s endorsement of tariffs raised concerns about the administration’s long-term trade stance, further unsettling Wall Street. Meanwhile, weekly jobless claims data showed a decline, but fears of slowing economic growth and potential stagflation lingered. All eyes are now on Friday’s jobs report for further clues on the economy’s trajectory.
Source: Trading Economi