""The S&P 500 sank 4.8%, more than in major markets across Asia and Europe, for its worst day since the pandemic crashed the economy in 2020.""
""Investors worldwide knew Trump was going to announce a sweeping set of tariffs late Wednesday, but Trump still managed to surprise them with 'the worst case scenario for tariffs.'""
Wall Street faced severe losses as President Trump's new tariffs rattled global markets, reminiscent of the COVID outbreak chaos. All major indexes fell with the S&P 500 dropping 4.8% and the Dow plunging 1,679 points, reflecting widespread investor anxiety over potential economic repercussions. The tariffs, with rates starting at 10% and higher for select nations, threaten to lower U.S. economic growth by 2% and accelerate inflation. This unexpected announcement led to sharp declines across various sectors, including crude oil, tech stocks, and even gold, which had been seen as a safe haven.
Read at Boston.com
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