All three major US index funds close down as Apple and Nvidia, two of US’s largest companies, lose combined $470bn

cross-posted from: https://lemmy.ml/post/28091145

US stock markets tumbled on Thursday as investors parsed the sweeping change in global trading following Donald Trump’s announcement of a barrage of tariffs on the country’s trading partners.

All three major US stock markets closed down in their worst day since June 2020, during the Covid pandemic. The tech-heavy Nasdaq fell 6%, while the S&P 500 and the Dow dropped 4.8% and 3.9%, respectively. Apple and Nvidia, two of the US’s largest companies by market value, had lost a combined $470bn in value by midday.

Meanwhile, the US dollar hit a six-month low, going down at least 2.2% on Thursday morning compared with other major currencies and oil prices sank on fears of a global slowdown.

  • ComfortablyDumb@awful.systems
    62·
    21 hours ago

    What does this actually mean for the world. F**k the US but what would be the impact when the world’s largest consumer goes into a lower consumption mode?

    • slaneesh_is_right@lemmy.orgEnglish
      3·
      16 hours ago

      If america gets a cough, the whole world gets sick. And america is bleeding out of their ass right now. As much as it sucks for the rest of us, it’s nice to see.