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President Trump’s aggressive tariff policies have triggered a major stock market selloff, wiping out $4 trillion from the S&P 500’s value since its February 19 peak.
The S&P 500 has fallen 8.6% from its record high and is approaching correction territory (10% decline), while the Nasdaq has already confirmed a correction. Monday saw particularly steep declines, with the S&P 500 dropping 2.7% and the Nasdaq plunging 4%, its worst day since September 2022.
Business leaders and investors are especially concerned about the uncertainty created by Trump’s unexpected tariffs against allies like Canada, Mexico, and Europe, with Delta Air Lines already slashing profit forecasts due to economic uncertainty. Tech stocks have been hit hardest, with Tesla alone losing $125 billion in value in a single day.
