04/04/2025

Markets Plunge with S&P 500 Down 6 Percent and Dow Down 2,200

This is the worst man-made crisis since COVID-19 emerged

Today, Wall Street's worst crisis since COVID-19 slammed into a higher, scarier gear.

The S&P 500 lost 6 percent after China matched President Donald Trump’s big raise in tariffs announced earlier this week. The move increased the stakes in a trade war that could end with a recession that hurts everyone. Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.

The drop closed the worst week for the S&P 500 since March 2020, when the pandemic crashed the economy. The Dow Jones Industrial Average plunged 2,231 points, or 5.5 percent Friday, and the Nasdaq composite tumbled 5.8 percent to pull more than 20 percent below its record set in December.

Please select this link to read the complete article from The Associated Press.