04/10/2025

U.S. Stocks Close Sharply Lower on Thursday

This wiped out some of the historic rally a day earlier

U.S. stocks closed sharply lower on Thursday, wiping away some of the previous day's rally as investors digested President Donald Trump's decision to suspend some tariffs while escalating a trade war with China.

Hours after markets opened, the White House said U.S. tariffs on China stand at 145 percent, more than the 125 percent levy that had been widely reported a day earlier. The news sent shares falling further than they had earlier in the day.

The Dow Jones Industrial Average dropped 1,014 points, or 2.5 percent, at the market close. The S&P 500 fell 3.4 percent, while the tech-heavy Nasdaq plunged 4.3 percent.

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