Hey everyone! 📉 U.S. stocks took a major hit on Tuesday as the White House confirmed plans to dramatically hike tariffs on Chinese goods. This move sent shockwaves through the market: the Dow Jones dropped 320.01 points (0.84%) to finish at 37,645.59, while the S&P 500 fell 79.48 points (1.57%) to 4,982.77—just keeping clear of bear market territory. The tech-favored Nasdaq wasn't spared either, plunging 335.35 points (2.15%) to 15,267.91.
Every one of the 11 major sectors in the S&P 500 ended in the red, with materials and consumer discretionary leading the losses at 2.96% and 2.54% respectively. Financials saw a milder decline of 0.41%.
This rapid sell-off is a reminder that global economic shifts affect everyone—even tech-savvy professionals and young entrepreneurs in South and Southeast Asia. Stay tuned for more updates as we watch how these policy moves unfold on the world stage!
Reference(s):
cgtn.com
