US Stock Markets Suffer the Worst Day of the Year: Investors Scared of Recession Due to Trump's Tariff Policy.
US Stock Indices Plunge due to Economic Struggles
The tech index Nasdaq Composite had its worst day in the last five years, falling by 4.18%. The S&P 500 dropped by 2.75%, approaching correction territory at 9% below its record high. The Dow Jones Industrial Average lost 1.99%.
Decline Caused by Uncertainty Over Trump's Tariff Policy
Chairman of the National Economic Council Kevin Hassett is confident that the American economy has every chance of recovering and even raising wages. However, analysts are skeptical about the success of his policies and predict further declines in the indices.
Tech Companies Hit the Hardest
Influenced by this situation, tech companies that have suffered the most include Apple, Microsoft, Alphabet, Amazon, Nvidia, and Meta. Significant losses were also incurred by Tesla, Coinbase, and Microstrategy.
Stock Market Decline is Result of Trade Barriers and Tariffs
Future forecasts are mixed, but they are largely influenced by the uncertainty of Trump's tariff policy and the looming threat of recession.
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