The S&P 500 Index ($SPX) (SPY) today is down -4.42%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -3.72%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -5.11%. June E-mini S&P futures (ESM25) are down -4.10%, and June E-mini Nasdaq futures (NQM25) are down -4.78%.
Stock indexes are sinking today, with the S&P 500, Nasdaq 100, and the Dow Jones industrials sliding to 6-1/2 month lows. Stocks are plunging today because of concerns that President Trump's trade policies will push the US and perhaps global economies into recession. Late Wednesday, President Trump announced reciprocal tariffs that were worse than feared, hammering stocks and the dollar and prompting a risk-off mood in asset markets. The plunge in stocks has fueled a flight to safety into government bonds, with European government bond yields falling to 4-week lows and the 10-year T-note yield dropping to a 5-1/2 month low. Stocks extended their losses today after the US Mar ISM services index fell more than expected to a 9-month low.
