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HomeWorld NewsUS Stock Market Highlights: Dow slides 1,600 points, S&P 500, Nasdaq post biggest single-day losses since 2020
US Stock Market Highlights: The Dow Jones lost 1,679 points (-3.98%) to close at 40,545.93, while the Nasdaq tumbled 5.97% to 16,550.61. Over 400 S&P 500 stocks ended in the red, pushing the index 12% below its February peak.
US Stock Market Highlights: A sharp sell-off gripped Wall Street on Thursday as market fears of a trade war and the US entering a recession escalated following President Trump’s tariff announcement. The S&P 500 suffered its worst one-day drop since 2020 falling 4.84%.
Multinational companies bore the brunt—Nike fell 13%, Apple dropped 10%, and Nvidia slid 7%. Retailers dependent on imports were also hit hard, with Five Below down 26%, Dollar Tree 12%, and Gap 21%.
The US dollar experienced its largest single-day decline on record, dropping by 2.1% against major currencies. Investors are concerned about the potential negative impact of President Trump’s sweeping trade tariffs on the US economy, leading to a shift away from the dollar and towards safer assets like the Japanese yen and Swiss franc. The decline in the dollar is further fuelled by expectations of interest rate cuts by the Federal Reserve to stimulate growth, potentially weakening the dollar further.
