The S&P 500 Index ($SPX) (SPY) Thursday closed down -3.46%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -2.50%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -4.19%. June E-mini S&P futures (ESM25) are down -3.51%, and June E-mini Nasdaq futures (NQM25) are down -4.23%.
Stock indexes on Thursday fell sharply, giving back some of Wednesday’s massive rally. Despite President Trump’s action on Wednesday to announce a 90-day pause on reciprocal tariffs to 56 countries, the markets are still concerned about the effects of US trade policies on the global economy since all the other Trump tariffs remain in place. The tariffs have caused consumer confidence to plummet and have prompted many companies to suspend their capital spending plans, a negative factor for GDP growth.
