New developments related to Trump’s tariffs had a significant impact on the US market, causing a sharp decline on Wall Street. The Dow Jones Industrial Average initially fell 771.92 points and finally closed with a fall of 824 points. The Nasdaq Composite fell 326.07 points to 22,560.79. The S&P 500 fell 79.72 points to 6,829.79.
Why so much chaos in the US market?
Analysts believe uncertainty over tariffs and potential trade tensions increased investor jitters, leading to massive selling. Amid the sharp decline in the stock market, investors turned to safe-haven options.
Gold rose nearly 2 percent to $5,200 an ounce, reflecting risk-hedging demand. Meanwhile, Bitcoin was trading at around $66,000 in the cryptocurrency market. Uncertainty over tariffs has increased volatility in global financial markets, and investors remain cautious for now.