US stock market plummets due to Trump’s trade wars
11 March 07:43
The US stock market is falling due to growing concerns about the economic consequences of the US tariffs. On Monday, March 10, Wall Street showed its worst result in 2025. This was reported by "Komersant Ukrainian" with reference to Bloomberg.
The publication writes that the stock market collapse occurred as investors prepared for a slowdown in the US economy, which President Donald Trump had not previously ruled out.
The Nasdaq 100 technology index fell 3.8%, the worst performance since October 2022. The S&P 500 index fell by 2.7%.
Cryptocurrency prices fell. Bitcoin fell to a four-month low.
The Wall Street Journal reports that Tesla shares have lost 15.4%, and Elon Musk’s company has lost more than 50% since December last year.
Shares of Apple, Microsoft, Alphabet, Amazon, Nvidia, and Meta fell between 2% and 5%.
Shares of Morgan Stanley and Goldman Sachs fell by 6.4% and 5%, respectively.
The Vix index, known as a measure of Wall Street fear, rose to its highest level since mid-December.
According to the Financial Times, investors are concerned that Trump’s trade war is hurting the US economy. On Monday, Goldman Sachs lowered its forecast for US economic growth to 1.7%, down from 2.4% at the beginning of the year.
Earlier, Trump said that the US economy is facing a “transition period,” noting that his focus on tariffs and federal layoffs is causing market turmoil.
Asked by Fox News if he expects a recession this year, Trump said: “I hate to predict these things. There’s a transition period because what we’re doing is so massive.”
For now, the Trump team’s argument is based on the prospect of future tax cuts and tariff revenues, which officials believe will boost the economy.
Trump’s shifting tariff policy has spooked investors, causing a sell-off in tech stocks and a level of volatility unseen in recent years.
As a reminder, on February 11, 2025, US President Donald Trump signed several executive orders imposing 25 percent duties on steel and aluminum imports, which is currently his latest action in his ongoing efforts to renegotiate US trade relations with the rest of the world.
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