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Trump's tariffs shock US markets! BBC: Worst week for US stocks since Covid

2025-04-05 08:15:56Kosova&Bota SHKRUAR NGA REDAKSIA VOX
Trump's tariffs shock US markets! BBC: Worst week for US stocks since Covid
An American's despair after the stock market crash

Global stocks tumbled for the second day in a row as the world continued to react to Donald Trump's global tariffs.

Stock markets in Asia, Europe and the US fell sharply in response to Trump's tariff policy, with the US market facing its worst two-day stretch since 2020.
All three major US stock indexes are now trading down more than 5%. When the market closed in the US, the S&P 500 fell 5.98%, the Dow 30 fell 5.5% and the Nasdaq 5.82.

Previously, China - which faces a 54% import tax - said it would impose a retaliatory tariff of 34% on US goods starting April 10.

Despite the market reaction, Trump remained firm and the president insisted that his "policies will never change" before criticizing China's retaliation, saying they were "playing it wrong, they panicked."

Trump also urged US Federal Reserve Chairman Jerome Powell to cut interest rates. Powell said Trump's tariffs are "significantly larger than expected" and he expects higher inflation and slower growth as a result.

Mike Dickson, head of quantitative research and strategies at Horizon Investments in the US, said: "Frankly, the situation is pretty grim and it should be. It will take weeks to understand the impact of Trump's tariffs."

He added that there were few parts of the market that had escaped unscathed. “It looks like people are selling straight into cash. There is a lot of uncertainty.”

This is Wall Street's worst slump since COVID. The decline capped the worst week for the S&P 500 since March 2020, when the pandemic brought the economy to a standstill. The Dow Jones Industrial Average fell 2,231 points, or 5.5%, on Friday, and the Nasdaq fell 5.8% to fall more than 20% below its record set in December.


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