The US trade war has resulted in a significant loss in the US stock market, with over $3.1 trillion in market capitalization disappearing in a single day. This is the largest drop since March 2020, with the S&P 500 and Dow Jones experiencing their biggest one-day drops since June 2020, and the Nasdaq since March 2020. The tariffs imposed by the US have also impacted the real economy, with automotive company Stellantis halting production at plants in Canada and Mexico and laying off about 900 workers in the US. Concerns over a global economic recession are growing, with JP Morgan raising the probability from 40% to 60%.
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Auto-posted at: 2025-04-04 21:03:36