U.S. stock markets ended sharply lower Friday, with major indexes posting their worst day since April, after President Donald Trump announced plans to impose a 100% tariff on Chinese imports, escalating trade tensions between the two nations.
President Trump’s tariff announcement sent shockwaves through the market, particularly affecting technology stocks, which are heavily reliant on Chinese manufacturing and exports. The S&P 500’s technology sector posted significant losses, contributing to the broader market downturn.
The market’s decline also reflected investor concerns over the potential economic impact of a full-scale trade war with China. Analysts warned that the tariffs could disrupt global supply chains, increase costs for consumers, and hinder economic growth.
Despite today’s losses, the S&P 500 and Nasdaq remain up approximately 11% and 15%, respectively, for the year. However, the recent volatility has raised questions about the sustainability of the market’s rally.
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