US Stocks Suffer Sharp Declines Amid Tariff Concerns
US equities faced their steepest decline in over two years on Thursday, as major stock indexes suffered sharp losses.
The S&P 500 plunged 4.8%, erasing roughly $2 trillion in market value, marking its largest drop since 2020. The Dow fell nearly 1,680 points, while the Nasdaq dropped 5.9%. Investors were rattled by the looming threat of President Trump’s new tariff plan, which could trigger global retaliation and potentially harm economic growth.
Tech stocks led the sell-off, with Apple tumbling 9% and Nvidia falling 7.8%, while major retailers such as Nike (-13%) and Dollar Tree (-13.3%) posted double-digit losses. Despite the significant declines, traders noted that the sell-off remained orderly, though concerns over inflation and market volatility continued to mount.
With tariffs set to take effect on April 5 and additional levies to follow, uncertainty is expected to weigh on market sentiment in the near term.
Source: Trading Economics
