Dow drops 1,600 as US stocks lead worldwide sell-off after Trump’s tariffs
NEW YORK (AP) — The U.S. stock market buckled Thursday, and a level of shock unseen in years tore through financial markets worldwide on worries about the damage President Donald Trump ‘s newest set of tariffs could do to economies across continents, including his own.
The S&P 500 was down 4.8% in late trading, more than in major markets across Asia and Europe. It’s heading toward its worst day in more than two years, and it’s close to its worst since COVID shattered the economy in 2020. The Dow Jones Industrial Average was down 1,426 points, or 3.98%, and the Nasdaq composite was 5.97% lower.
Little was spared in financial markets as fear flared about the potentially toxic mix of weakening economic growth and higher inflation that…
