Stock market plunges due to escalating tariff war between U.S. and China

From Nasdaq: 2025-04-11 09:18:00

Wall Street closed sharply lower on Thursday due to the escalating tariff war between the U.S. and China. The Dow Jones fell 2.5%, the Nasdaq dropped 4.3%, and the S&P 500 lost 3.5%. Energy, tech, consumer discretionary, and communication services sectors were hit hard. The fear-gauge VIX rose 21.1%.

After historic gains on Wednesday, uncertainty over trade tensions led to market losses. President Trump raised tariffs on China, causing concern. Mega-cap tech stocks like Amazon and Meta Platforms plummeted. Oil prices fell as investors feared an escalation in the tariff war. Economic data showed mixed results for initial and continuing claims and CPI.

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Read more at Nasdaq: Stock Market News for Apr 11, 2025