Stock market has worst day since 2020
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The U.S. is imposing a minimum 10% reciprocal tariff on nearly all countries.
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The Dow plunged 1,500 points, or 3.6%.
CNN |
“Trump is enacting a very aggressive tariff policy, far more aggressive than most investors thought possible six months ago,” said Jed Ellerbroek, portfolio manager at Argent Capital.
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Mark Zuckerberg lost the most among billionaires in Thursday’s stock meltdown, while a Mexico mogul came out a winner.
Sweeping global "reciprocal" tariffs announced by President Donald Trump provoked dismay, threats of countermeasures and urgent calls for negotiations.
US equity futures are pointing towards more pain ahead on Wall Street after Thursday's rout wiped out over $2.5 trillion in market capitalisation. The Dow futures are currently trading 420 points lower,
Not great. Here's their combined loss of market value Thursday, according to Dow Jones Market Data—a record one-day wipeout.
Wall Street futures plunged Thursday morning after President Donald Trump unveiled a historic batch of reciprocal tariffs that could fuel an all-out trade war and batter economies around the world. Futures tied to the Dow Jones Industrial Average lost 1,214 points, or 2.86%, by about 9 a.m. ET.
Thursday's sell-off hit megacap technology stocks especially hard, with CNBC's Magnificent Seven index sliding more than 6%. Collectively, the stocks in the Magnificent Seven, which led the market higher in both 2023 and 2024, lost more than $1 trillion in market value.
Ashley is your community reporter covering news and sports in northern San Luis Obispo County, including San Miguel, Paso Robles, Templeton, Atascadero and Santa Margarita. Wall Street took a major hit on Thursday after President Trump announced new tariffs on imports. Local experts on what this means for community members.
6don MSN
US stocks tumbled Friday and a broad selloff gripped Wall Street as investors digested slightly stubborn inflation data and weakening consumer sentiment while wrestling with continued tariff anxiety.