Wall Street 'red', lost 6,600 billion USD due to tariffs

Red continued to flood Wall Street as $6.6 trillion was wiped off the stock market, just two days after Mr. Trump announced the reciprocal tax rate.

The New York Stock Exchange (NYSE) screen at the close of trading on April 4 showed the Dow Jones index falling 2,231 points - Photo: REUTERS

According to the Wall Street Journal , on April 4 (local time), the US stock market continued to be immersed in red.

At the end of a turbulent week before and after US President Donald Trump announced tariffs on most of the country's trading partners, the Dow Jones index fell more than 3,000 points, equivalent to 7.9%.

On April 4 alone, the Dow Jones index fell more than 2,200 points after China announced retaliatory tariffs against the US.

The tech-heavy Nasdaq index also fell 10% and entered a bear market. Compared to its previous high, the index has fallen 20%.

Meanwhile, the S&P500 index also fell 9.1%, meaning the US stock market was blown away by nearly 10% just two days after the new tax policy was announced.

Market developments show that no sector is safe from the new tariff policy. All 11 sectors of the S&P 500 index closed in the red on April 4.

Banks and brokerages were hit hardest. Consumer goods or homebuilding companies were largely unaffected.

Notably, stocks of the Magnificent Seven group of technology companies lost up to $1.6 trillion in market value last week. These are the seven largest and most influential technology companies in the world , including: Apple, Nvidia, Microsoft, Meta, Alphabet, Tesla and Amazon.

This proves a common view on Wall Street: There is no safe place to escape the high tariffs that Mr. Trump has erected.

“There are too many confused, scared and angry people out there,” said the chief strategist at the renowned international stock brokerage Interactive Brokers.

World gold and oil prices fall sharply

Gold futures fell 2.7% to $3,012 per troy ounce on April 4, after hitting a record high earlier this week.

Meanwhile, oil prices have plummeted to their lowest level in nearly four years. The US benchmark closed Friday at $61.99 a barrel, having fallen nearly 14% in just two days since Mr Trump imposed the tariffs.

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Source: https://tuoitre.vn/pho-wall-do-lom-mat-6-600-ti-usd-vi-thue-quan-20250405090905697.htm