US stocks plunged in after-hours trading as investors digested President Donald Trump’s sweeping tariffs.
Dow futures fell more than 900 points, or 2.19%. S&P 500 futures sank 3.38%. Futures tied to the Nasdaq 100 dropped 4.28%.
“Trump is enacting a very aggressive tariff policy, far more aggressive than most investors thought possible six months ago,” said Jed Ellerbroek, portfolio manager at Argent Capital. “Painful times for stock market investors.”
Wall Street had been nervous about Trump’s tariffs, though some analysts expected stocks could rally if the tariff announcement was lighter than feared. Those hopes were dashed as Trump unveiled sweeping baseline 10% tariffs on all imports, plus higher rates for specific countries.
“While the market was positioned to bounce on a ‘less bad than expected’ tariff announcement, there is no way to spin today’s news as positive for the economy or stock market,” said Ellerbroek.
JoAnne Bianco, chief investment strategist at BondBloxx, said the US will continue to experience elevated uncertainty and market volatility as investors assess the “detrimental economic impact” of Trump’s tariffs.
Economists expect that Trump’s sweeping tariffs could upend global supply chains, stoke inflation and drag on economic growth. Apple (AAPL)…
