A trader works on the floor of the New York Stock Exchange (Credit: AFP)
Worst day since 2020: US stocks crash on Trump tariff news
US stocks suffered their steepest losses in nearly four years on Thursday after President Donald Trump announced sweeping tariffs on all foreign imports.
The move triggered fears of an escalating trade war and renewed uncertainty about the direction of the American economy.
Markets reacted swiftly, with all three major indices closing sharply lower. The Dow Jones Industrial Average dropped 3.98 percent, while the tech-heavy Nasdaq sank 5.97 percent. The S&P 500 also took a heavy hit, falling 4.84 percent—its worst one-day performance since June 2020.
The atmosphere inside the New York Stock Exchange (NYSE) was tense as traders grappled with the market fallout. Veteran floor trader Peter Tuchman described to CNN the sentiment as grim, saying it was the most turbulent day on the floor since the pandemic-era crash: "The mood on the floor on the market's worst day since 2020."
