Wall Street Woes: Tariffs and Tumbling Tech Stocks Shake Markets

The US stock market experiences significant downturns due to President Trump's tariff policies, impacting major indices like the S&P 500 and Dow Jones. The economic outlook is bleak as tech stocks and consumer-dependent companies face steep declines. Meanwhile, investors seek refuge in US Treasury bonds as market uncertainty grows.

On Monday, the US stock market witnessed a dramatic decline, marking one of its worst days in recent years. The S&P 500 fell by 3.2% during afternoon trading, while the Dow Jones Industrial Average plummeted by 1,042 points. This downturn reflects increasing concerns about President Donald Trump's tariff strategies and their economic impact.

Wall Street analysts worry that frequent market volatility could lead to prolonged economic woes. Economists, like David Mericle at Goldman Sachs, have already revised growth projections, citing the adverse effects of tariffs. Large tech companies, including Nvidia and Tesla, have seen significant stock declines, reflecting broader market concerns.

Investors are responding by shifting their focus toward US Treasury bonds, seeking stability amid economic uncertainty. This market turbulence contrasts with overseas trends, where European and Asian indexes also faced declines, further highlighting global economic challenges.

(With inputs from agencies.)