US equities saw their sharpest decline in more than two years on Thursday, as major stock indexes suffered steep losses. The S&P 500 plunged 4.8%, wiping out about $2 trillion in market value, marking its biggest decline since 2020. The Dow dropped nearly 1,680 points, while the Nasdaq dropped 5.9%. Investors were rattled by the looming threat of President Trump's new tariff plans, which could trigger global retaliation and potentially harm economic growth. Technology stocks led the selloff, with Apple falling 9% and Nvidia dropping 7.8%, while big-box retailers Nike (-13%) and Dollar Tree (-13.3%) posted double-digit losses. Despite the significant declines, traders noted that the selloff remained orderly, even as concerns over inflation and market volatility continued to mount. With tariffs set to come into effect on April 5 and additional levies to follow, uncertainty is expected to weigh on market sentiment in the near term. (Newsmaker23)
Source: Trading Economics
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