U.S. stock markets plummeted after the opening bell Thursday, as investors registered shock at President Donald Trump’s sweeping retaliatory tariffs. The Dow Jones Industrial Average fell as many as 1,570 points, though in percentage terms the decline was a somewhat-less-alarming 3.7%. The Nasdaq was down almost 6% and the S&P 3%, and the dollar also […]U.S. stock markets plummeted after the opening bell Thursday, as investors registered shock at President Donald Trump’s sweeping retaliatory tariffs. The Dow Jones Industrial Average fell as many as 1,570 points, though in percentage terms the decline was a somewhat-less-alarming 3.7%. The Nasdaq was down almost 6% and the S&P 3%, and the dollar also
Charly Triballeau/AFP via Getty Images
U.S. stock markets plummeted after the opening bell Thursday, as investors registered shock at President Donald Trump‘s sweeping retaliatory tariffs.
The Dow Jones Industrial Average fell as many as 1,570 points, though in percentage terms the decline was a somewhat-less-alarming 3.7%. The Nasdaq was down almost 6% and the S&P 3%, and the dollar also was in free-fall.
Red numbers for individual stocks have also been remarkable, with Apple and Meta down 8% and Amazon 9.5%. Entertainment shares were not spared, with Disney down 6%, Warner Bros. Discovery off by 8%, Fox Corp. slipping 5% and Roku tumbling 15%.
While the entertainment industry took some comfort in the fact that services and digital wares are not subject to the tariffs, the broader economic impact is expected to be harsh and immediate. Inflation and jacked-up costs for businesses of all sizes are expected to take a toll on the economy, and advertising spending is apt to be pulled back as corporations look to cut costs.
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