Stocks fell on Thursday after a massive rally on Wall Street spurred by President Donald Trump announcing a 90-day reprieve on some of his "reciprocal" tariffs.
The Dow Jones Industrial Average dropped 744 points, or 1.8%. The S&P 500 shed 2.2%, while the Nasdaq Composite slid 2.8%. The major averages are still down sharply since the tariffs were announced on April 2. The S&P 500 is lower by more than 6% in that time, along with the Dow and Nasdaq.
Leading the declines were Apple and Tesla, which pulled back more than 3 and 5%, respectively. Nvidia lost 4.9%, while Meta Platforms lost 3.7%.
The moves come after a historic surge on the Street, where the S&P 500 soared more than 9% for its third-largest gain in a single day since World War II. The Dow also saw its biggest percentage advance since March 2020, while the Nasdaq scored its biggest one-day gain since January 2001 and second-best day on record.
Source: CNBC
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