- Title: US stocks open week with huge losses, S&P 500 enters bear market
- Date: 7th April 2025
- Summary: US stocks open week with huge losses, S&P 500 enters bear market SHOTLIST: ***FILE FOOTAGE*** NEW YORK CITY, US (FEB. 25, 2025) (ANADOLU – ACCESS ALL) 1. EXTERIOR SHOT OF ENTRANCE OF NEW YORK STOCK EXCHANGE BUILDING 2. PEOPLE WALKING ON WALL STREET 3. SIGN ON POLE READING “WALL STREET 4. CLOSE-UP OF DIGITAL TICKER TAPE OVER DOOR OF NEW YORK STOCK EXCHANGE 5. EXTERIOR SHOT OF ENTRANCE OF NEW YORK STOCK EXCHANGE BUILDING (2 SHOTS) 6. US FLAGS WAVING OUTSIDE NEW YORK STOCK EXCHANGE BUILDING 7. CLOSE-UP OF DIGITAL TICKER TAPE OVER DOOR OF NEW YORK STOCK EXCHANGE 8. SIGN READING “NYSE, AN ICE EXCHANGE” 9. EXTERIOR SHOT OF NEW YORK STOCK EXCHANGE BUILDING 10. PEOPLE OUTSIDE NEW YORK STOCK EXCHANGE ***FILE FOOTAGE*** NEW YORK CITY, US (JUL. 09, 2024) (ANADOLU – ACCESS ALL) 11. VARIOUS OF SCREENS AND PEOPLE WORKING IN NYSE SCRIPT US stocks opened the week significantly down with the S&P 500 entering bear territory as the global trade war continues to wreak havoc on the markets. Last Wednesday, US President Donald Trump announced the imposition of sweeping reciprocal tariffs on over 180 countries, ranging from 10% to 50%. The Dow Jones Industrial Average fell 1,145.63 points, or 2.99%, to 37,169.23 as of 10.00 am EDT (1400GMT). The S&P 500 was down 107.51 points, or 2.13%, to 4,958.76, entering bear market territory. The Nasdaq composite lost 291.39 points, or 2.04%, to 15,323.27. Last week, US stock markets lost around $6 trillion, while nearly $10 trillion has been wiped from US markets since Trump's Jan. 20 inauguration and the Nasdaq composite had already entered bear market territory. Trump on Sunday described tariffs as "medicine” for addressing the country’s trade deficit with many countries. "I don't want anything to go down, but sometimes you have to take medicine to fix something," Trump told reporters on Air Force One, saying he was not intentionally trying to engineer a market selloff with his policies. After the tariff announcements, companies with global supply chains and those that are highly dependent on imports plus tech companies saw a sharp decline in shares. As the decline in the shares of companies called the “Magnificent Seven” continued, Amazon's shares fell over 2%, Alphabet, Microsoft and Meta's shares fell over 3%, Apple and Nvidia's shares fell over 5%, and Tesla's shares fell over8 %. The VIX volatility index, referred to as the "fear index," jumped to 50.76.
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- Copyright Holder: Anadolu Agency
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