Stock Market Today: Stocks extend slide as China | Global Market News
U.S. equity futures prolonged declines in early Friday trading, following on from the worst session for the S&P 500 in practically 5 years, as the fallout from President Donald Trump’s sweeping international tariff plan stokes additional considerations over a sharp and damaging recession within the world’s greatest economic system.Updated at 6:17 AM EDTChina hits againChina unveiled its first spherical of reprisals to U.S. tariffs, saying a 34% stage on all American items beginning on April 10 in a transfer that successfully confirms the prospects of an escalating trade warfare between the world’s two greatest economies.Stock futures prolonged declines instantly following the assertion from China’s Finance Ministry, with the S&P 500 now referred to as 85 factors decrease and the Nasdaq a 306 level pullback.China broadcasts further tariff measures on US imports with Europe prone to comply with on Monday pic.twitter.com/3px6s1lnqJ— Ole S Hansen (@Ole_S_Hansen) April 4, 2025
Stock Market Today Stocks suffered their greatest single-day decline since June of 2020 final night time, with the S&P 500 falling 4.84%, wiping out more than $2.4 trillion in market worth and shutting on the lowest stage since August 12. The Nasdaq, in the meantime, shed round $1.4 trillion in worth as it misplaced more than 1,000 factors on the day, with the tech-focused benchmark now some 18% south of its mid-December peak. President Trump’s tariff plans, that are set to incorporate the steepest U.S. import levies in more than a century, with a baseline obligation of 10% on items from each nation within the world, are seen as each stoking inflation and slowing GDP growth, which is already flirting with recession following what is probably going the weakest first quarter since 2022.
Fed Chair Jerome Powell is prone to assess the tariff injury during a keynote tackle to an occasion in Virginia later this morning.Kevin Dietsch/Getty Images
“US tariff increases add to the downside risks for global growth,” Bank of America strategists wrote Friday. “Our economists highlight that the US tariff increases announced this week could lower global GDP growth by at least 50 basis points, with a potential 100 to 150 basis point drag to US GDP growth, a similar drag on China and a 40 to 60 basis point hit to Eurozone GDP growth,” the bank added.Related: Trump tariffs raise U.S. recession and stagflation risksBond markets are clearly reflecting Wall Street’s grim outlook, with benchmark 10-year Treasury word yields now marked 20 foundation factors decrease from pre-announcement ranges and trading at 3.951% heading into the beginning of the New York session.At the entrance finish of the curve, rate-sensitive 2-year notes have been final marked 24 foundation factors decrease from Wednesday ranges at 3.611%, a transfer that largely mirrors the percentages of more Federal Reserve price cuts between now and the tip of the yr as the economic system weakens.Investors will get key insights on that outlook from at present’s March employment report, anticipated at 8:30 am Eastern time, as properly as a keynote speech from Fed Chairman Jerome Powell at an financial occasion in Virginia at 11:25 am Eastern time. Heading into the beginning of the trading day on Wall Street, markets predict one other hectic session, with the CBOE Group’s VIX index trading at $30.88, the very best because the international market turmoil in August.At that stage, choices merchants predict every day swings of round 1.9%, or 104 factors, for the S&P 500.The benchmark itself, which is down 8.04% for the yr, is priced for one more sharp decline of round 48 factors in the beginning of trading, with the Dow Jones Industrial Average referred to as 468 factors decrease after final night time’s near-1,700 level plunge.The Nasdaq, in the meantime, is known as 105 factors decrease, with the equal-weighted Roundhill Magnificent 7 ETF now trading a full 24% south of its mid-December peak, a transfer that represents a bear market for the world’s greatest tech stocks. Related: There’s no need for a trade warfare; America’s already gained it. By a lot.In Europe, the fallout from final night time’s rout on Wall Street continued into abroad markets, with the regional Stoxx 600 benchmark falling 2.16% in Frankfurt and Britain’s FTSE 100 down 2.1% in London.Overnight in Asia, Japan’s Nikkei 225 tumbled 2.75% to take the benchmark to its lowest stage since August, capping its worst week in 5 years and pegging the index in bear market territory in comparison with its August peak.The regional MSCI ex-Japan index, in the meantime, slumped 1.1% into the close of trading as the MSCI World index suffered its greatest weekly decline in seven months.More Economic Analysis:
Stay up to date with the latest news within the international markets! Our web site is your go-to source for cutting-edge financial news, market trends, financial insights, and updates on worldwide trade. We present every day updates to make sure you have entry to the freshest info on stock market actions, commodity costs, currency fluctuations, and main financial bulletins.
Explore how these trends are shaping the longer term of the worldwide economic system! Visit us repeatedly for probably the most participating and informative market content material by clicking right here. Our fastidiously curated articles will keep you knowledgeable on market shifts, investment methods, geopolitical impacts, and pivotal moments in international finance.
