U.S. stocks tumbled sharply on Tuesday amid renewed investor anxiety following the White House’s confirmation of plans to significantly raise tariffs on Chinese goods. The Dow Jones Industrial Average fell 320.01 points (0.84%) to 37,645.59, while the S&P 500 slid 1.57% to 4,982.77, narrowly avoiding bear market territory. The Nasdaq Composite bore the brunt of losses, plunging 2.15% to 15,267.91.
All 11 sectors in the S&P 500 closed lower, with materials and consumer discretionary stocks leading declines at 2.96% and 2.54%, respectively. Analysts attributed the sell-off to heightened trade tensions, as investors weighed risks of retaliatory measures from the Chinese mainland and disruptions to global supply chains.
The announcement has drawn attention from Asian markets, where businesses and governments are bracing for ripple effects. For investors and entrepreneurs across Asia, the developments underscore the fragility of cross-border trade dynamics and their implications for regional economic growth.
