Trump Tariffs Set to Wipe Out Nearly $2 Trillion From US Stocks
Source: Bloomberg
April 3, 2025 at 8:00 AM EDT
Roughly $1.7 trillion is set to be erased from the S&P 500 Index when trading opens Thursday amid worries that President Donald Trump’s sweeping new round of tariffs could plunge the economy into a recession.
The damage was heaviest in companies whose supply chains are most dependent on overseas manufacturing. Apple Inc., which makes the majority of its US-sold devices in China, is on track to open down 7.7%. Lululemon Athletica Inc. and Nike Inc., among companies with manufacturing ties to Vietnam, are down at least 9%. Walmart Inc. and Dollar Tree Inc., retailers whose stores are filled with products sourced outside of the US, are trading at least 4% lower.
Few stocks in the US were unscathed with the biggest ETF tracking the S&P 500 on pace for its biggest decline since 2022. More than 90% of companies in the S&P 500 were trading lower at 8 a.m. in New York, with over half of its 500 stocks down at least 2% in premarket trading. “The market is realizing that there is pretty much no way to spin this as a positive,” said Steve Sosnick, chief strategist at Interactive Brokers. “Here we are with a substantial selloff on our hands abetted somewhat by traders whose commitment to buy every dip left them wrong-footed.”
The breadth and severity of the levies dwarfed those imposed by Trump during his first term, threatening to upend global supply chains, exacerbate an economic slowdown and boost inflation. It also left investors struggling to game out what levies would do to corporate profits.
Read more: https://www.bloomberg.com/news/articles/2025-04-03/trump-tariffs-set-to-zap-nearly-2-trillion-from-us-stock-market
No paywall (gift)
This includes slamming big pension funds and 401(k)s, etc.
= new reply since forum marked as read
In addition, the Heritage Foundation needs to be permanently banned from DC forever. 
I get a federal annuity and SS and am watching both like a hawk! 
Rand Paul and other GOP senators have stated that tariffs screwed their party in elections many times. They know. But are not doing much to stop this madness.
