Trump's tariffs hit U.S. stocks hard, and the S & P 500 fell into correction territory
2025-04-03 16:11:17
U.S. stocks maintained their losses in midday trading on Thursday, with the Dow down more than 1,300 points, the Nasdaq down nearly 5% and the S & P 500 falling into correction territory. US President Donald Trump announced additional "reciprocal tariffs" of 10% to 49% on almost all countries, a move that could spark a global trade war and hit an already sluggish US economy hard. The number of Americans claiming unemployment benefits unexpectedly fell last week. Trump's tariffs and OPEC + production increase plan sent oil prices tumbling. The Dow fell 1,309.80 points, or 3.10%, to 40,915.52; the Nasdaq fell 861.38 points, or 4.89%, to 16,739.67; the S & P 500 fell 214.50 points, or 3.78%, to 5456.47.
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