U.S. stocks plunged on Thursday, reversing some of the previous day's historic rally as fresh concerns over escalating trade tensions between the U.S. and China rattled investor confidence. President Trump's announcement of a 90-day tariff pause for some countries had sparked optimism, but confirmation that total tariffs on Chinese goods had jumped to 145% reignited market concerns. The S&P 500 and Nasdaq fell 3.5% and 4.3%, respectively, while the Dow plunged 1,015 points. Tech giants such as Apple (-4.2%), Tesla (-7.3%), Nvidia (-5.9%), and MetaTrader (-6.7%) led the losses, as investors grew wary of lingering trade uncertainty. Although Trump left open the possibility of extending the tariff pause, markets responded to mounting pressure from the unresolved and deepening trade war with China. Additionally, growth concerns are taking over investors' attention again after yesterday's rally on Trump's tariff pause, despite evidence of disinflation in today's CPI print. (Newsmaker23)
Source: Trading Economics
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