Financial markets around the world are reeling following President Donald Trump’s latest and most severe volley of tariffs, and the U.S. stock market may be taking the worst of it.
The S&P 500 was down 3.3% in early trading Thursday, more than the losses seen in other major markets.
The Dow Jones Industrial Average was down 1150 points, and the Nasdaq composite was off 4.3%. Little was spared as fear flared globally about the potentially higher inflation and weakening economic growth that tariffs can create.
Prices fell for everything from crude oil to Big Tech stocks to small companies that invest only in U.S. real estate.
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