U.S. stocks plummeted by market close on Friday as President Donald Trump’s sweeping tariffs continue to rattle markets across the world.
The Dow Jones Industrial Average plunged 2,200 points, or 5.5%, marking the steepest decline since June 2020, while the Nasdaq Composite dropped 5.6%, and the S&P 500 tumbled 5.8%, also the largest decline since June 2020. This marked the second day in a row where U.S. stocks nosedived after Trump announced on Wednesday sweeping new tariffs on imported goods as part of what he called “Liberation Day.”
The tariffs aim to “strengthen the international economic position of the United States and protect American workers,” according to a White House fact sheet published Wednesday. The White House’s fact sheet further claimed that the “current global trading order allows those using unfair trade practices to get ahead, while those…
