Global stocks pay for Trump's tariff plan U.S. stocks perform worst since September 2022
Global stocks tumbled on Thursday as President Donald Trump's sweeping tariff plan kicked off a trade war with wide-ranging implications for the global economy, Golden Finance reports. Public fears about rising prices and the likelihood or even possibility of a recession with slower economic growth sent U.S. stock indexes tumbling, posting their worst one-day performance since at least September 2022. Apparel and retail companies led the fall, with Williams-Sonoma, Ralph Lauren and Deckers Outdoor all down more than 17 per cent. Technology and tech-retail stocks such as Hewlett-Packard, Best Buy and Goodman were all down at least 15 per cent. Magnificent 7 stocks, which have led the market higher over the past two years, were also broadly lower, with Apple and Amazon both down more than 8 per cent. More than 400 stocks in the S&P 500 were down.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Senators Propose New Bill to Transfer Crypto Regulatory Authority to CFTC
Meta's Chief AI Scientist Resigns as Company Accelerates AI Strategy Restructuring
Byreal launches Solana innovative PoW asset $ORE, offering 8%+ APY