2025-04-10T20:31:07.000Z

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The U.S. stock market experienced a turbulent day on Thursday, surrendering a notable portion of the significant gains it had achieved the previous day. This downward trend highlights the escalating concerns over President Donald Trump's ongoing trade war, which continues to cast a shadow over the nations economic stability.

The S&P 500 index, a benchmark for the overall health of the U.S. equities market, fell by 3.5%, closing at 5,268.05 points. The Dow Jones Industrial Average, which comprises 30 large publicly-owned companies, dropped 2.5%, ending the day at 39,593.66 points. In a more pronounced decline, the Nasdaq composite, known for its technology-heavy listing, plummeted 4.3%, settling at 16,387.31 points. This widespread sell-off reflects investor anxiety amid heightened trade tensions and economic uncertainty.

The situation intensified when China announced its own set of countermeasures against U.S. tariffs. The stock market's losses accelerated further following a clarification from the White House regarding the tax on Chinese imports, which was set to increase to a staggering 145%, a substantial jump from the previously mentioned 125% rate proposed by President Trump. This announcement sent ripples through financial markets, contributing to a significant downturn even in the bond market, despite a report on inflation that exceeded analysts' expectations. Additionally, the price of U.S. crude oil saw a decline of over 3%, reflecting the broader economic concerns.

Examining the performance of the major indices on Thursday, the S&P 500 fell by 188.85 points, or 3.5%. The Dow Jones Industrial Average experienced a significant drop of 1,014.79 points, equating to a 2.5% decrease. Meanwhile, the Nasdaq composite saw a reduction of 737.66 points, which translates to a 4.3% decline. The Russell 2000 index, which tracks smaller companies, also faced losses, falling by 81.77 points or 4.3%, to close at 1,831.39 points.

Despite the turbulence of Thursday, it's crucial to note that the market showed some resilience earlier in the week. For the week, the S&P 500 had managed to gain 193.97 points, or 3.8%. The Dow had increased by 1,278.80 points, or 3.3%. The Nasdaq recorded an impressive rise of 799.52 points, representing a 5.1% increase, while the Russell 2000 index was up by a mere 4.36 points, or 0.2%.

However, the yearly performance paints a starkly different picture. The S&P 500 is down 613.58 points, or 10.4% year to date. The Dow has declined by 2,950.56 points, or 6.9%, and the Nasdaq has suffered a more severe drop of 2,923.48 points, or 15.1%. The Russell 2000 index has also taken a hit, down 398.76 points or 17.9%. These figures underscore the ongoing volatility and uncertainty gripping the U.S. financial markets as they grapple with the repercussions of trade policies and their wider impact on the economy.