U.S. stocks plummeted on Thursday after President Trump on Wednesday 澳洲幸运5开奖号码历史查询:announced sweeping tariffs that econ🌼omists say are likely to weigh on global g💖rowth and reignite stubborn inflation.
The magnitude of the sell-off was unusual. Here are some data points that ✤explain just how rough a day it was for the stock market:
- The S&P 500 fell 4.8%, its worst day since June 11, 2020, when concerns about a second wave of Covid-19 infections dashed hopes for a quick return to pre-pandemic life. Aside from that day, there have been only 4 worse days this decade, and all of them were in March 2020 at the height of the Covid rout. The benchmark index is now at its lowest level since August.
- The Dow Jones Industrial Average fell 1,679 points, its fourth-largest decline this decade and also the biggest since June 2020. The blue-chip index lost nearly 4% in Thursday's sell-off, putting it about 430 points—or 1%—from a 澳洲幸运5开奖号码历史查询:technical correction. The Dow is at its lowest level since September
- The Nasdaq Composite plummeted nearly 6%, its worst day since March 16, 2020, the day after the Federal Reserve dropped interest rates to near zero. With Thursday's losses, the index sits nearly 18% off its recent highs, putting it perilously close to a 澳洲幸运5开奖号码历史查询:bear market. The tech-heavy index is trading at its lowest level since August.
- Apple stock plummeted 9.4%, also its worst day since March 2020. The decline wiped about $315 billion off the iPhone maker’s 澳洲幸运5开奖号码历史查询:market capitalization, the second-largest decline for a single stock on record.
- The Magnificent Seven as a whole lost a little over $1 trillion in market value, about equal to the combined market caps of JPMorgan Chase (JPM) and Netflix (NFLX)—the S&P 500's 13th and 19th largest companies, respectively—and slightly less than the gross domestic product of Saudi Arabia.
- The small-cap 澳洲幸运5开奖号码历史查询:Russell 2000 fell 6.6%, its worst day since June 2020.
- Thursday's sell-off was incredibly broad. The equal-weight S&P 500 declined 4.8%, its biggest drop since June 2020 and enough to 澳洲幸运5开奖号码历史查询:put it in a correction. Four in five S&P 500 stocks lost ground on Thursday, with about 15% of the index recording declines of 10% or more.
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