1 week Ago
US stock market tumbled on Thursday amid worries over the economic impact of US President Donald Trump's multi-front tariff war. All three major US stock indexes suffered steep losses as escalating US-China trade war concerns dampened optimism over upbeat economic data and US-Europe trade negotiations. The Dow Jones Industrial Average plunged 1,014.
79 points, or 2.50%, to 39,593.66, while the S&P 500 slumped 188.
85 points, or 3.46%, to 5,268.05.
The Nasdaq Composite closed 737.66 points, or 4.31%, lower at 16,387.
31. Among the 11 major sectors in the S&P 500, all but consumer staples ended in negative territory, with energy and tech suffering the largest percentage drops, Reuters reported. Declining issues outnumbered advancers by a 4.
81-to-1 ratio on the NYSE. There were 39 new highs and 224 new lows on the NYSE. On the Nasdaq, 867 stocks rose and 3,588 fell as declining issues outnumbered advancers by a 4.
14-to-1 ratio. Meanwhile, on Wednesday, Trump announced a 90-day tariff pause that led to a 9.5% surge in S&P 500, the largest one-day percentage jump since October 2008.
The tech-heavy Nasdaq soared 12.2%, notching its second-biggest daily gain on record. Stock Reactions The so-called Magnificent Seven group of artificial intelligence-related momentum stocks declined between 2.
3% and 7.3%. Apple share price dropped 4.
24%, Nvidia stock price tanked 5.91%, Advanced Micro Devices shares cracked, while Tesla share price plunged 7.27%.
CarMax slid 17.0% after the used-car retailer missed fourth-quarter profit expectations. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
We advise investors to check with certified experts before making any investment decisions..
