Markets Plummet Again Over Trump’s Tariffs On China

April 10, 2025 Business, Education

Stocks fell Thursday, giving back some of the gains from the historic rally seen in the previous session after Trump announced a 90-day reprieve on some of his “reciprocal” tariffs. Investors worried that even with the short pause on some of the duties, economic activity will be slowed by Trump’s singling out of China with a much higher rate.

The major averages pared some of their losses earlier Thursday. The S&P 500 sold off 4.3%, while the Nasdaq Composite slid 5.1%. The Dow Jones Industrial Average dropped over 1000 points, or 2.5%. Leading the declines were Apple and Tesla, which pulled back more than 4% and 8%, respectively. Nvidia lost nearly 7%, while Meta slipped around 7%.

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TRUMP: We were up close to 3,000 points. Nobody has ever seen a day like that. I think that’s a record, isn’t it, fellas?

LUTNICK: Definitely. pic.twitter.com/gqv2DP7dGK

— Aaron Rupar (@atrupar) April 9, 2025