All three of the US’s major markets opened to sharp losses on Thursday morning, with the S&P 500 down 4.3% – putting it on track for its worst day since the COVID-19 pandemic.
Stock markets around the world opened to sharp lows after Donald Trump announced sweeping tariffs – with some economists now fearing a recession.
The US president announced tariffs for almost every country – including 10% rates on imports from the UK and a flat 25% tariff on all imported vehicles – on Wednesday evening, sending financial markets reeling.
While the UK’s FTSE 100 was down 1.55% and the continent’s STOXX Europe 600 index was down 2.67% as of 5.30pm, it was American traders that suffered the worst blows.
All three of the US’s major markets opened to sharp losses on Thursday morning;
By 8.30pm UK time (3.30pm EST), The Dow Jones Industrial Average was down 3.7%, the S&P 500 opened with a drop of 4.4% – putting it on track for its worst day since the COVID-19 pandemic – and the NASDAQ composite was down 5.6%.
Compared to their values when Donald Trump was inaugurated, the three markets were down around 5.
