WASHINGTON: U.S. stocks tumbled Thursday as President Trump’s tariffs sparked fears of a global recession and economic instability.
Market Crash
The Dow Jones Industrial Average plunged 1,500 points in morning trading. This marked a steep 3.6% drop. The S&P 500 fell 3.95%, reaching its lowest level since September. The Nasdaq plummeted 4.9%, suffering its worst loss since the 2022 inflation crisis. Market volatility remains high.
Global Decline
International markets also suffered major losses. Europe’s STOXX 600 index dropped 2.34%, while Germany’s DAX lost 2.29%. In Asia, Japan’s Nikkei 225 index fell 2.77%. Hong Kong’s Hang Seng index declined 1.52%. Investors are bracing for further global instability.
Tariff Fallout
Trump’s tariffs hit nearly all imported goods. Experts warn of retaliation from key U.S. trading partners. The policy has disrupted supply chains and increased uncertainty. Analysts fear a prolonged economic slowdown. Businesses are already facing cost increases.
Corporate Losses
Several major U.S. companies saw massive stock declines. Apple (AAPL) plunged 9% due to supply chain concerns. Nike (NKE) tumbled 13%. Ralph Lauren (RL) and Best Buy (BBY) both fell 16%. Companies reliant on imports were hardest hit.
Safe-Haven Surge
Investors rushed into safe-haven assets. Gold prices soared to a record $3,160 per troy ounce Wednesday. Treasury bond yields plummeted to their lowest levels since October. Gold hovered around $3,100 Thursday morning, up 19% this year. The metal posted its strongest quarter since 1986.
Uncertain Future
Analysts warn of continued volatility. The stock market may face more turbulence as trade tensions escalate. Investors remain concerned about rising costs. The coming weeks will be critical in shaping economic trends.
