The reciprocal tariffs triggered panic, leading to a two-day plunge in the US stock market, with the Dow Jones index plummeting by 2,231.07 points last Friday.
The U.S. stock market suffered a sharp decline last Friday, losing a market value of $5.4 trillion due to panic among investors sparked by the trade war. The Dow Jones Industrial Average dropped by 2,231.07 points, the S&P 500 index fell by 322.44 points, marking the worst day for the S&P 500 since 2020, with only 14 stocks experiencing an increase, while Nvidia and Apple each dropped over 7%. Market analysts indicated that the trade tensions could lead to an economic recession, and Federal Reserve Chairman Powell also mentioned that tariffs might have a long-term impact on inflation.