US stock markets plummeted after President Donald Trump unveiled steep tariffs on imports, sparking fears of a global trade war.

  • Dow Jones fell 751 points (-1.8%)
  • S&P 500 futures dropped 3%
  • Nasdaq-100 futures plunged 3.8%

Biggest Losers: Tech & Retail Giants Hit Hard

The after-hours market sell-off saw major tech and retail companies suffer significant losses:

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  • Nike: -7%
  • Apple: -6%
  • Nvidia: -4%
  • Tesla: -5%
  • Gap: -12%
  • Five Below: -11%
  • Ralph Lauren: -5%
  • Estée Lauder: -3.5%

Why Did Markets Crash?

Trump’s executive order imposed at least a 10% tariff on nearly all imports, but many key trade partners face far higher rates.

Countries like China (34%) and Taiwan (32%)—both vital for tech supply chains—were among the hardest hit, causing a sell-off in semiconductor and technology stocks.

Global Impact: Asian Markets React

US market turmoil extended to Asian markets, with ETFs linked to major economies dropping:

  • MSCI India ETF: -2.8%
  • MSCI Japan ETF: -3.2%
  • MSCI China ETF: -2.4%

Wall Street Reacts: ‘Worse Than Expected’

Market analysts say the uncertainty and complexity of Trump’s tariffs spooked investors.

“The level of new tariffs is worse than feared and not priced into the market,” said Art Hogan, Chief Market Strategist at B Riley Wealth.

“At first, futures rallied when Trump mentioned a 10% baseline. But when he announced higher tariffs, markets tanked,” added Chris Zaccarelli of Northlight Asset Management.

What’s Next? More Market Turbulence?

With global supply chains under threat and uncertainty around US trade policy, analysts predict further stock market volatility in the coming days.