Nasdaq hits bear market; S&P, Dow sink

From Yahoo Finance: 2025-04-04 16:20:00

U.S. stocks suffered heavy losses amidst volatile trading, with the S&P 500 down 5.9%, the Dow Jones falling 5.5%, and the Nasdaq entering a bear market, dropping 5.8%.

President Trump imposed tariffs on multiple U.S. trading partners, including China, the EU, Japan, Vietnam, and Taiwan. China retaliated with 34% tariffs, sparking fears of a global trade war.

Federal Reserve Chairman Jerome Powell warned that tariffs could raise inflation, leading JPMorgan to raise the risk of a recession in the U.S. to 60%.

Tech giants like Nvidia, Apple, Amazon, and Palantir saw sharp declines, while energy stocks, including Schlumberger, ExxonMobil, and Chevron, lost over 8%.

Despite the market turmoil, some investors view the sell-off as an opportunity to invest in top companies like Apple and Tesla, according to Keith Fitz-Gerald of the Fitz-Gerald Group.



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