The US trade war initiated by President Trump has led to a significant drop in the US stock market, with over $3.1 trillion in market capitalization disappearing in a single day. Major indices such as the S&P 500, Dow Jones, and Nasdaq saw their largest one-day drops since 2020. The tariffs have affected American companies with supply chains across Asia, leading to stock declines for companies like Apple, Gap, Under Armour, and Nike. The tariffs are also impacting the real economy, with automotive company Stellantis halting production and laying off workers due to rising costs and decreasing demand. The US economy is now facing warnings of a potential recession, with Barclays predicting a -0.1% growth rate this year and JPMorgan raising the probability of a global economic recession to 60%.
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Auto-posted at: 2025-04-04 21:02:34