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HomeWorld NewsUS stock market LIVE: Dow plunges 1500 points, S&P 500 down 4% as Wall Street selling deepens after Trump's tariffs
US Stock Market LIVE: Stocks plunged sharply on Thursday, with the S&P 500 dropping 4%, marking its worst day since September 2022. The Dow Jones tumbled 1,500 points (4%), and the Nasdaq Composite also slid 4%. The sell-off was widespread, with decliners outnumbering advancers six-to-one at the NYSE. Multinational companies took a heavy hit—Nike and Apple dropped 13% and 8%, respectively. Retailers dependent on imports, like Five Below, Dollar Tree, and Gap, saw steep losses, while tech stocks like Nvidia and Tesla fell 5% amid supply chain concerns. On Wednesday, President Trump announced a two-step tariff plan, imposing a 10% baseline rate on all US trading partners, with higher duties for “bad actors.” The tariffs, effective April 5 and 9, will affect 185 countries, marking the highest US tariff rate in over 100 years. Global markets are on edge, fearing retaliation and a potential trade war’s impact on economic growth. Stay tuned for the latest updates on the US stock markets from the CNBC-TV18 blog.
US stock market LIVE: Stocks plunged dramatically on Thursday, with the S&P 500 entering correction territory as market fears escalated following President Trump’s tariff announcement. The S&P 500 fell 4%, marking its worst day since September 2022, while the Dow Jones Industrial Average plummeted 1,500 points, or 4%. The Nasdaq Composite also dropped by 4%, as a widespread sell-off gripped the market. Decliners at the New York Stock Exchange outnumbered advancers by a staggering six-to-one ratio. Multinational companies were hit hard, with shares of Nike and Apple falling 13% and 8%, respectively. Retailers heavily reliant on imported goods were among the hardest hit, with Five Below sinking 28%, Dollar Tree tumbling 10%, and Gap plunging 22%. Tech stocks also saw significant declines, with Nvidia and Tesla each losing 5% amid a broader risk-off sentiment. Equities across multiple sectors, from retail to Big Tech, experienced sharp declines. Major companies like Apple saw a 7% drop amid concerns over potential supply chain disruptions in China, a key supplier for iPhone components. Chipmakers, including Nvidia, also saw their stocks fall as similar worries about supply chain issues weighed on investor sentiment.
On Wednesday, President Trump unveiled a two-step tariff plan, imposing a baseline rate of 10% on all US trading partners. However, countries deemed "bad actors" in trade will face significantly higher duties. These tariffs are set to take effect on April 5 and April 9. A total of 185 countries will be affected by the tariffs, pushing the effective US tariff rate to its highest level in over a century. Global stock markets sold off as fears of retaliation from trading partners grew, stoking concerns about a full-scale trade war and its potential impact on global economic growth.
Stay tuned with the latest updates from the US stock markets with the CNBC-TV18 blog
