Panic and Loss on Wall Street After Trump’s Tariffs – $2 Trillion Vanished

A significant collapse in shares followed the ‘tsunami’ of tariffs announced by Donald Trump, causing tremors and anxiety globally. The New York Stock Exchange suffered losses amounting to an astronomical $2 trillion. Trump’s tariffs brought major losses to Wall Street, with oil also significantly declining. Specifically, the Dow Jones closed with a substantial drop of 1,679 points or 3.98% at 40,545 points, marking its biggest fall since September 2022. The S&P 500 plummeted by 4.84% to 5,396 points, experiencing its worst day since June 2020. The Nasdaq fell sharply by 5.97%, its largest decline since 2020, closing at 16,550 points. Shares of multinational companies also saw losses, with Nike and Apple dropping by 11% and 9% respectively. Tech stocks like Nvidia lost 5% and Tesla dropped by 3.5%. The Russell 2000 index, representing smaller companies, fell by 6%, losing 20% overall since last November, becoming the first U.S. index to officially enter a bear market. Oil prices dropped over 5%, reaching their biggest decline since mid-2022 due to unexpected supply increases from OPEC+. Meanwhile, the dollar fell 1.55% against the euro, trading at its lowest level since early October, and declined against other major currencies. Conversely, gold surged as the safest investment haven. The instability on Wall Street is expected to impact global financial markets during one of the most tumultuous sessions in recent years.