Many investors were caught flat-footed on Wednesday when Trump unveiled sweeping global tariffs.
U.S. stocks posted their worst weekly losses since March 2020, as President Donald Trump’s surprise “Liberation Day” tariffs sent markets reeling. Roughly $11.1 trillion in value has been erased since January 17, with $6.6 trillion lost in just two days — the biggest two-day wipeout on record, Dow Jones data shows.
“Financial markets have since been heaping pressure on the administration,” said Kathleen Brooks of XTB. Despite Trump’s optimistic Truth Social post about talks with Vietnam’s leader, the broader market remained deep in red.
“This could throw us into a recession and could end the bull market as we know it,” warned Jay Woods of Freedom Capital.
The S&P 500 and Nasdaq are now in bear-market territory.