Trump’s Tariffs Trigger Stock Market Turmoil
Former President Donald Trump's recent announcement of new tariffs has sent shockwaves through the U.S. financial markets, leading to significant volatility and a sharp decline in stock prices. The tariffs, aimed at protecting domestic industries, have sparked widespread protests and criticism from Democrats, who argue that they will increase costs for consumers and harm the economy.
Global markets have also been affected, with investors reacting to the uncertainty and potential for retaliatory measures from other countries. The Dow Jones Industrial Average dropped by over 500 points in a single day, reflecting the market's unease about the policy's implications.
Analysts are divided on the long-term impact of these tariffs. Some believe they could lead to a trade war, while others see them as a necessary step to address trade imbalances. The situation remains fluid, with ongoing protests and political debates shaping the public discourse on this contentious issue.
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How much did the stock market drop?
Today's plunge erased $2.7 trillion in market value from the index. The decline wipes out more than a year of stock market gains, taking the S&P 500 back to its levels in February 2024. The Dow Jones Industrial Average sank 2,231 points, or 5.5%, and is down 14% since peaking in February.
How much has Dow dropped?
The Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%. The Russell 2000 Index, which tracks the stocks of smaller U.S. companies, dropped by 4%.
Is the Nasdaq in a bear market?
Nasdaq confirms it is in bear market, ending more than 20% below record close.
Is the Dow in a bear market?
The tech-heavy index sank 5.8%, closing more than 20% below its December record to put it in bear market territory. The S&P 500 fell nearly 6%, marking its largest daily decline since 2020 The Dow fell 5.5%, closing down 10% from its recent high to fall into a correction.
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