President Trump's recent announcement of the largest tariff increase in a century triggered a sharp negative reaction in the stock market. The S&P 500 fell by 4.8%, and the Nasdaq dropped by 6%, marking the worst day since the COVID-19 economic shutdown in March 2020.
Retailers and manufacturers were hit particularly hard. Apple experienced a 9.3% decline, Nike fell 14.4%, and Gap plummeted by 20.3%.
The negative market sentiment extended beyond specific companies. Oil prices, the U.S. dollar, and the 10-year Treasury yield all fell, suggesting lowered expectations for future economic growth.
The White House maintains that the long-term benefits of the tariffs will outweigh the current economic pain.
Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
If you often open multiple tabs and struggle to keep track of them, Tabs Reminder is the solution you need. Tabs Reminder lets you set reminders for tabs so you can close them and get notified about them later. Never lose track of important tabs again with Tabs Reminder!
Try our Chrome extension today!
Share this article with your
friends and colleagues.
Earn points from views and
referrals who sign up.
Learn more