Summary
Here’s an overview of what happened today:
Stock markets around the globe continued to fall today, with the FTSE 100 and other European markets seeing further falls in the day.
The US stock market had a rocky day, though the main indexes seemed to stabilize by the afternoon.
US markets went up on an unverified rumor that Trump would delay the tariffs. The White House quickly denied the claim, calling it "fake news”. Later in the day, Trump confirmed that a pause is not being considered.
Trump threatened to increase tariffs on China by 50% if the country did not rescind its retaliatory tariffs against American exports.
Multiple business leaders, including Bill Ackman, Ken Fisher, Larry Fink and Jamie Dimon, spoke out against Trump’s tariffs today, forming a growing chorus of influential billionaires who are turning against Trump’s policy.
Markets close after rocky day of trading
After two straight days of deep plummets, markets appear to be slightly more stabilized this afternoon. The Dow was down 0.9% while the S&P 500 dropped 0.2% for the day. The Nasdaq was 0.1% up – a small gain, considering the index entered a bear market last week.
Stocks briefly went up in the morning going off an unverified rumor that the White House would delay tariffs, which was quickly squashed by the administration. Stocks ticked slightly down, then back up, in the afternoon.
Tech stocks had a particularly rocky day. Some companies, including Amazon and Meta, saw small gains, while Apple and Tesla both saw drops of at least 6%.
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