U.S. stocks plunge after Trump’s tariff shock to global trade
Smaller business, represented by the Russell 2000 Index, weren’t spared, with the benchmark closing down 6.6% Thursday. It has lost more than 20% since it peaked in November — officially a bear market.
The rout is a harsh early verdict on Trump’s historic tariff plan. Even before Wednesday’s rollout, his whipsawing trade policies had already unsteadied investors, corporate executives, consumers and retirement savers.
Now, markets are broadcasting profound pessimism about the policies of a president who regained office promising immediate improvements to a flawed but sturdy economy. As the outlook darkens, analysts are increasingly raising alarms about the potential for a recession.
For decades, American shoppers have been the…
