03.04.202520:02:36UTC+00US Stocks Suffer Sharp Declines Amid Tariff Concerns

U.S. equities experienced their sharpest downturn in over two years on Thursday as major stock indices recorded significant declines. The S&P 500 saw a dramatic 4.8% drop, wiping out approximately $2 trillion in market value and marking its biggest decline since 2020. The Dow Jones Industrial Average fell by nearly 1,680 points, while the Nasdaq Composite dropped 5.9%. This sharp sell-off was primarily driven by investors' concerns over President Trump's impending tariff plan, which has the potential to provoke global retaliation and hamper economic growth. Technology stocks were at the forefront of the decline, with Apple plummeting 9% and Nvidia decreasing by 7.8%. Additionally, major retailers like Nike and Dollar Tree recorded double-digit losses, down 13% and 13.3%, respectively. Although the declines were substantial, traders observed that market activity remained controlled, despite growing concerns about inflation and volatility. As tariffs are set to take effect on April 5, and additional measures expected soon after, market sentiment is likely to continue facing pressures in the short term.