Market Turbulence Continues: Fourth Straight Day of Losses
As the world eagerly awaits the outcome of the looming tariff deadline, the stock market experienced yet another rollercoaster ride on Tuesday. The major indexes all closed in the red, marking the fourth consecutive day of losses amidst uncertainty and volatility.
The Day’s Rollercoaster Ride
The day began on a positive note, with the surging over 1,000 points, the rising nearly 200 points, and the Nasdaq climbing more than 600 points in early trading. This relief rally was fueled by optimistic reports of potential tariff agreements between the U.S. and its trade partners.
However, as the day progressed, it became evident that no significant deals were on the horizon before the tariff deadline on April 9. This realization led to a gradual decline in stock prices, intensifying as the closing bell approached.
Wild Swings in the Market
By the end of the day, the Dow had experienced a staggering 1,500-point swing, while the saw a fluctuation of over 1,000 points, ultimately closing lower. The S&P 500 ended the day down approximately 79 points or 1.6%, with the Dow dropping 320 points or 0.8%. The Nasdaq plummeted 335 points or 2.1%, and the Russell 2000 sank 70 points or 3.9%.
Since the announcement of tariffs last Wednesday, the market has been on a downward trend for four consecutive days, with substantial losses recorded each day. The only exception was the modest 16-point increase in the Nasdaq on Monday.
Market Performance Since Tariff Announcement
Following the tariff announcement on April 2, the S&P 500 has declined by 12.1%, the Dow by 10.8%, the Nasdaq by 13.2%, and the Russell 2000 by 15%. Year-to-date, the S&P 500 is down 15.3%, the Dow is off by 11.5%, the Nasdaq has entered bear market territory with a 20.9% decline, and the Russell 2000 is down 21.3% YTD.
These figures underscore the significant impact of recent events on the financial markets and the broader economy.