US Market Crash: Dow falls 1,679 pts to 7-month low, Nasdaq hits 8-month low of 16,551 as bears rule Wall Street amid Donald Trump's reciprocal tariffs, growth concerns
: US stocks suffered their worst crash since COVID on Thursday amid concerns about slowing growth and worsening inflation a day after US President Donald Trump kicked off a trade tariff war by announcing reciprocal duties on most of America's trade partners. The Dow Jones Industrial Average (DJIA), the S&P 500, the Nasdaq Composite and the Russell 2000 bled 4-6.6 per cent, wreaking havoc among investors.
For starters, here's what the main US equity benchmarks looked like at the end of Thursday's trade:
For weeks, growing concerns about the US President’s harsh action on the trade front, and retaliatory action by America’s major trade partners, coming in the way of economic growth had kept investors on the back foot. Wednesday's announcements offered clarity on that front, taking away some of investors' concerns about the possible impact of an all-out trade war on the global economy. However, the panic returned across sectors on Wall Street the next day, causing the main indices to log their worst slides since the depths of the pandemic.
Twenty-three Dow constituents were in red territory at the end of trade.
| Change (%) | ||
| Nike Inc | 55.6 | -14.4 |
| Boeing Co | 150.9 | -10.5 |
| American Express Co | 247.8 | -10.0 |
| Apple Inc | 203.2 | -9.3 |
| Walt Disney Co | 88.8 | -9.2 |
| Goldman Sachs Group Inc | 511.2 | -9.2 |
| Amazon.com Inc | 178.4 | -9.0 |
| Caterpillar Inc | 305.8 | -8.6 |
| NVIDIA Corp | 101.8 | -7.8 |
| JPMorgan Chase & Co | 228.7 | -7.0 |
| McDonald's Corp | 318.3 | 2.2 |
| Coca-Cola Co | 73.2 | 2.6 |
| Johnson & Johnson | 159.8 | 2.9 |
| UnitedHealth Group Inc | 540.4 | 3.3 |
In the technology stocks-heavy Nasdaq Composite basket, 13 stocks plunged 10 per cent or more. Take a look at some of the most prominent counters in the Nasdaq pack:
| Stock | April 3 Close | Change (%) |
| Microchip Technology Inc | 40.7 | -16.8 |
| Micron Technology Inc | 74.3 | -16.1 |
| Warner Bros Discovery Inc | 9.2 | -13.3 |
| Trade Desk Inc | 49.1 | -12.8 |
| ON Semiconductor Corp | 35.6 | -12.8 |
| Diamondback Energy Inc | 141.3 | -12.5 |
| Marvell Technology Inc | 55.6 | -12.0 |
| Lam Research Corp | 65.2 | -11.6 |
| Atlassian Corp | 198.4 | -11.4 |
| Constellation Energy Corp | 190.2 | -11.3 |
| Apple Inc | 203.2 | -9.3 |
| Amazon.com Inc | 178.4 | -9.0 |
| Meta Platforms Inc | 531.6 | -9.0 |
| Tesla Inc | 267.3 | -5.5 |
| Alphabet Class A | 150.7 | -4.0 |
| Alphabet Class C | 152.6 | -3.9 |
| Microsoft Corp | 373.1 | -2.4 |
| Netflix Inc | 917.1 | -2.0 |
| Intel Corp | 22.4 | 2.1 |
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