The U.S. stock market experienced significant declines for the second consecutive day, with major indices and stocks dropping sharply as of 11 AM EST. The downturn comes amid news of new tariffs announced by President Donald Trump, followed by China’s retaliatory 34% tariffs on U.S. goods, as reported by various news outlets.
According to data from Yahoo Finance, the Dow Jones Industrial Average fell 1,434 points to 39,111.47. The S&P 500 dropped 228.50 points, closing at 5,168.02, while the NASDAQ Composite declined 762.07 points to 15,788.53. The NYSE Composite and Russell 2000 also saw declines, falling 927.87 points to 17,839.32 and 114.26 points to 1,796.29, respectively.
Individual stocks were also impacted. Apple Inc. (AAPL) decreased by $9.72 to $193.47, Alphabet Inc. (GOOG) fell $2.51 to $150.12, Tesla, Inc. (TSLA) dropped $24.11 to $243.17, Amazon.com, Inc. (AMZN) declined $5.86 to $172.55, and NVIDIA Corporation (NVDA) fell $7.74 to $94.06.
Experts believe the market’s reaction follows reports of escalating trade tensions, with Trump’s tariffs prompting China’s retaliatory measure. Investors appear to be responding to the uncertainty surrounding these developments, leading to widespread sell-offs across major indices and stocks. Despite the downturn, President Trump expressed optimism, stating that he believes the stock market will boom soon, according to a statement posted on Truth Social.
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