US markets nosedived with S&P 500 slumping 3.46% and Nasdaq tumbling 4.31%, as investor fears intensified over Trump’s escalating tariff moves and US-China trade tensions.
New York, April 11 – US stock markets suffered a brutal selloff on Thursday, driven by renewed anxiety over President Donald Trump’s aggressive tariff measures. All major indices recorded steep losses, with tech and energy stocks leading the plunge.
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The S&P 500 fell 188.85 points, or 3.46%, to 5,268.05, while the Nasdaq Composite nosedived 737.66 points, or 4.31%, to 16,387.31. The Dow Jones Industrial Average declined 1,014.79 points, or 2.50%, closing at 39,593.66.
Among the 11 key sectors on the S&P 500, only consumer staples remained resilient, while technology and energy sectors recorded the sharpest drops, according to Reuters.
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The market rout came just a day after Trump announced a 90-day pause on tariffs, which briefly sent markets soaring. The S&P 500 had jumped 9.5% on Wednesday — its biggest one-day rally since October 2008 — while the Nasdaq had surged 12.2%, posting its second-highest daily gain ever.
However, that optimism quickly faded when Trump reaffirmed a 10% blanket tariff on nearly all US imports and raised duties on Chinese goods, pushing total tariffs on China to a staggering 145%, as per the White House statement to CNBC.
Stock Impact:
The market meltdown hit tech giants hardest.
- Apple shares fell 4.24%
- Nvidia plunged 5.91%
- Tesla tanked 7.27%
- Advanced Micro Devices also saw heavy selling.
The once-buoyant “Magnificent Seven” AI-driven stocks declined between 2.3% and 7.3%.
Used-car retailer CarMax slumped 17% after missing fourth-quarter profit expectations.
Currency & Bond Markets:
The US dollar dropped sharply, hitting a 10-year low against the Swiss franc (down 3.89%), while also weakening against the euro (up 2.23%) and Japanese yen (down 2.07%).
Yields on US Treasury notes also softened:
- 10-year yield eased to 4.386%
- 2-year yield fell more steeply to 3.843%
Inflation Update:
In a surprising twist, US consumer prices edged down 0.1% in March, the first monthly drop since May 2020, driven by lower gasoline and used vehicle prices. Year-on-year, the CPI rose 2.4%, easing from 2.8% in February.
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US stock market, Trump tariffs, Nasdaq crash, S&P 500 slump, Dow Jones, Wall Street, US-China trade war, inflation data, treasury yields, Apple stock, Nvidia, Tesla, AMD, Magnificent Seven, CPI March 2025, dollar vs franc, stock market news