U.S. stocks traded lower midway through trading, with the Dow Jones index dipping more than 1,100 points on Friday. Beijing unveiled a retaliatory 34% tariff on U.S. goods—mirroring the rate announced by President Donald Trump on Wednesday—deepening fears of a full-blown trade war.
US indices plunge on Trump's tariff bombshell. Apple, Nike, and Nvidia lead tech and retail losses.
The Nasdaq 100 has suffered its worst quarter in nearly three years.
US shares are set to tank sharply after President Trump's 'reciprocal' tariffs announcement last night. Dow Jones futures are down 2.8%, while those for the S&P 500 are pointing to a 3.4% plunge and the tech-heavy Nasdaq 100 is set to tumble 3.9% lower.
As of Monday, the Nasdaq Composite index had tumbled more than 11% since the start of the year. The outlook for the economy is worrisome, as trade wars and promised tariffs could lead to disaster for many businesses.
The Nasdaq Composite index is home to almost every stock listed on the Nasdaq exchange, so it's typically a good proxy for the performance of the broader technology industry. As of this writing, it's down by 14% from its recent all-time high, which places it firmly in correction territory.
It's been a challenging year for the U.S. stock market. The S&P 500 (^GSPC 0.67%) has declined 8% from its high, and the technology-focused Nasdaq Composite (^IXIC 0.87%) has fallen 14%.
Macro uncertainty has delayed the timeline for an IPO comeback, but there remains substantial pent-up supply for equity issuance.
The S&P 500 experienced volatility on Tuesday and was in the green. Investors were awaiting clarity from US President Donald Trump regarding tariff policy, and weaker-than-expected economic data also put pressure on Wall Street.
US Indices continued to see selling pressures in Q1 due to tariff threats, geopolitical concerns, and fear of a US recession. However, Q2 could very well see a rebound if history tells us anything.
Thanks to a combination of factors, such as weak economic data, tariff concerns, higher-than-expected inflation, and fears about AI capital expenditures, the stock market has been beaten down in recent months. And while the overall market has taken a hit, the tech-heavy Nasdaq has been the worst performer of the major indices, with the Nasdaq Composite nearly 15% below its recent high.