The S&, P 500 plunged nearly 6 %, the Dow Jones Industrial Average fell 5.5 %, and the tech-heavy Nasdaq slumped 5.8 %, officially entering bear market territory.
” US industry have now lost over$ 9 trillion in market cover since the Jan 20th Trump 2.0 Inauguration”, said Ajay Bagga, finance and business professional. ” US imports are$ 3.3 trillion. US tariff revenues, even if all imports stay and even if tariffs are collected on ALL these$ 3.3 trillion of imports, will be$ 600 billion. Goods will be more by around 20 per share on average. Demand may go down, and trade amounts will reduce. So,$ 600 billion will not be collected. But the market cap lost of$ 9 trillion is real”.
The sell-off was sparked after China hit up with a rough 34 % hostile work on all US goods, successful April 10, escalating anxieties of a continuous global trade war. European and Asian indices followed the US slump—Germany’s DAX lost 5 %, France’s CAC 40 dropped 4.3 %, and Japan’s Nikkei 225 fell 2.8 %. Fuel prices sank to their lowest levels since 2021, while business supplies like metal even recorded sharp falls.
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India wasn’t spared both. The Sensex fell 930 positions to near at 75, 364.69, and the Nifty ended the evening 345 points lower at 22, 904.45. For the week, the Sensex shed over 2, 100 details, with global trade hostilities and heightened threat dislike weighing heavily on investor sentiment. Industries such as IT, metals, pharmaceutical, and fuel were the worst hit.
‘ Taxes here to stay’: Trump brushes off conflict, industry lose$ 5 trillion in two weeks
Amid the market turmoil, President Trump remained unfazed and doubled down on his combative trade policy. Posting on Truth Social, he declared: “Big business is not worried about the Tariffs, because they know they are here to stay, but they are focused on the BIG, BEAUTIFUL DEAL, which will SUPERCHARGE our Economy. Very important. Going on right now!!!”
His comments followed a two-day meltdown that erased$ 5 trillion from the US businesses only. Despite a solid work record, investment nerves were frayed over the escalating price tit-for-tat and looming fears of a global crisis.
However, Trump struck an optimistic statement, urging his fans:” This is a great day to get rich”, and likening the economic trauma to a medical procedure—painful but important. ” China played it wrong, they panicked – the one thing they cannot afford to do”! he wrote in another all-caps post.
He also hinted at progress with other trade partners, stating:” Vietnam wants to cut their Tariffs down to ZERO if they are able to make an agreement with the US”.
Outside the US, markets remained under pressure. Germany, France, and Japan all reported heavy losses. Oil and copper continued to fall, deepening concerns about a broader slowdown in global demand.
Meanwhile, US Federal Reserve Chair Jerome Powell issued a warning that the trade war could contribute to “higher inflation and lower growth”, and signalled restraint on interest rate cuts. But Trump pushed back, urging: “CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS”!
Despite the mounting losses for major corporations like GE Healthcare and DuPont, which have been directly hit by China’s countermeasures, Trump continued to project strength. ” ONL Y THE WEAK WILL FAIL”! he posted, while spending the weekend golfing at his Mar-a-Lago resort in Florida.
