Stocks fall sharply, with the Nasdaq near bear market

Record ID: 1988249

  • Title: Stocks fall sharply, with the Nasdaq near bear market
  • Date: 4th April 2025
  • Summary: SANT JOAN DESPI, SPAIN (APRIL 4, 2025) (REUTERS) FORWARD ROBERT LEWANDOWSKI AND GOALKEEPER WOJCIECH SZCZESNY ARRIVING AT PITCH PLAYER ARRIVING AT TRAINING SESSION MIDFIELDER ANDREAS CHRISTENSEN AND DEFENDERS JULES KOUNDE AND RONALD ARAUJO ARRIVING AT TRAINING SESSION COACH HANSI FLICK TALKING WITH ARAUJO SQUAD ON THE PITCH GOALKEEPERS WARMING UP SZCZESNY STOPPING THE BALL
  • Embargoed:
  • Keywords: Dow NYSE Nasdaq Trump equities stocks stocks trading tariffs
  • Location: NEW YORK, NEW YORK, UNITED STATES
  • City: NEW YORK, NEW YORK, UNITED STATES
  • Country: US
  • Topics: Economic Events,North America,Equities Markets
  • Reuters ID: LVA001433704042025RP1
  • Aspect Ratio: 16:9
  • Story Text:Global stock markets tumbled again on Friday (April 4) as China struck back against U.S. President Donald Trump's tariffs and worries mounted about a prolonged global trade war.
    The Nasdaq Composite was headed toward a bear market, while the pan-European STOXX 600 index confirmed it was in a correction as the trade war fanned global recession concerns.
    Since Trump unveiled his tariffs late on Wednesday (April 3), S&P 500 companies have lost over $4 trillion in stock market value, a record two-day decline for the benchmark, exceeding a two-day loss of $3.3 trillion in March 2020, when the pandemic ripped across global markets, according to LSEG data compiled by Reuters.
    Some investors fled to the safety of government bonds, while traders ramped up bets on rate cuts from the Federal Reserve and other major central banks.
    Responding to Trump's tariffs, China on Friday said it would impose additional levies of 34% on American goods, confirming investor fears that a full-blown global trade war is under way.
    Trump slapped a 10% tariff on most U.S. imports and much higher levies on dozens of countries, erecting the steepest trade barriers in more than 100 years.
    Data showing the U.S. economy added far more jobs than expected in March did little to brighten the mood.
    Federal Reserve Chair Jerome Powell said in remarks at a business journalists conference in Arlington, Virginia, that Trump's new tariffs are "larger than expected" and the economic fallout, including higher inflation and slower growth, likely will be as well.
    He also said the U.S. central bank does not have a prediction of a downturn in its outlook but he recognized private-sector forecasters are shifting on that front.
    Companies with exposure to China also fell. Apple, Nvidia and Amazon.com were all down sharply.
    Bank shares dropped across the globe as fears of a recession increased. The S&P 500 financial index was down 6%.
    The Dow Jones Industrial Average fell 1,601.47 points, or 3.96%, to 38,938.99, the S&P 500 lost 250.57 points, or 4.64%, to 5,144.87 and the Nasdaq Composite fell 787.62 points, or 4.77%, to 15,760.90.
    (Production: Soren Larson)
  • Copyright Holder: REUTERS
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