Two TRILLION wiped off US stock value in one day as Trump's tariffs spark recession fears

U.S. corporations were left reeling as their market value plummeted on Thursday, following President Donald Trump's decision to impose comprehensive tariffs on international imports.

Across the board, sectors suffered immense losses, culminating in the steepest single-day decline across U.S. financial markets since the onset of the COVID-19 crisis five years prior.



Industries ranging from banking and retail to apparel, air travel, and tech experienced significant downturns, with an anticipated cutback in consumer expenditure if tariffs raise the costs of products and services. The new Trump tariffs were deemed unexpectedly severe by numerous economic experts, prompting a sell-off of equity in companies forecasted to be most affected by what equates to a tax on businesses. This tax is expected to eventually impact consumers, leading to escalated prices.

Should people begin to spend less due to these inflated prices, there’s a risk of reduced business output and a potential stagnation or regression of economic growth. Considering that consumer spending accounts for roughly 70% of the United States' economic activity, the stakes are quite high, reports the Irish Star . "This is a game changer, not only for the U.

S. economy but for the global economy," said Olu Sonola, who heads up U.S.

Economic Research at Fitch Ratings, in a published analysis. "Many countries will likely end up in a recession." The SandP 500 saw a sharp decline of 4.

8%, erasing over $2 trillion worth of value, as noted by Howard Silverblatt, a senior index analyst with SandP Dow Jones Indices. A comprehensive summary of Thursday's drastically underperforming market sectors and individual companies follows. Airlines had been forecasting a profitable year.

However, economists warn that if Americans face increased costs for essentials, it could impact their travel budgets. United Airlines has seen a decrease of 15.6%.

American Airlines has dropped by 10.2%. Delta Air Lines is down by 10.

7%. Most major clothing and shoe manufacturers produce their goods outside the U.S.

, which means they'll have to pay a tariff or import tax on all goods shipped back into the country for sale. Nike has seen a decrease of 14.4%.

Under Armour is down by 18.8%. Lululemon has dropped by 9.

6%. Ralph Lauren is down by 16.3%.

Levi Strauss has decreased by 13.7%. Both big box and online retailers import a significant portion of their inventory from outside the U.

S.. Amazon has seen a decrease of 9%.

Target is down by 10.9%. Best Buy has dropped by 17.

8%. Dollar Tree is down by 13.3%.

Kohl's has decreased by 22.8%. Companies that manufacture and sell computers, smartphones, and other technology often source many of their parts from abroad.

Some even manufacture their entire products overseas, meaning they'll have to pay a tariff when those products are shipped back for sale to consumers. Apple has seen a decrease of 9.2%.

HP is down by 14.7%. Dell has dropped by 19%.

Nvidia is down by 7.8%. If the economy falls into a recession, households and businesses will be less likely to borrow money as demand for products and services decline.

Wells Fargo has seen a decrease of 9.1%. Bank of America is down by 11.

1%. JPMorgan Chase has dropped by 7%. American shoppers, less optimistic about their financial prospects this year, have already started to cut back on dining out as they tighten their budgets and focus on essential goods and services.

Starbucks has seen a decrease of 11.2%. Cracker Barrel has dropped by 12.

7%. Cheesecake Factory has fallen by 9.4%.

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