U.S. stock markets plunged Thursday in their sharpest single-day decline since March 2020, triggered by former President Donald Trump's announcement of expansive new tariffs targeting nearly all trading partners. The Dow Jones Industrial Average plummeted 1,679 points (4.7%), while the S&P 500 and NASDAQ saw even steeper drops of 4.84% and 5.97% respectively.
Technology and consumer giants bore the brunt of the selloff, with Apple shares falling 6.1%, Meta dropping 7.3%, Amazon declining 5.9%, and Nike sliding 8.2%. Analysts attribute the rout to fears of renewed global trade tensions disrupting supply chains – particularly concerning for Asia's export-driven economies.
While Trump predicted markets would recover, stating "We're making space for the greatest economic boom," economists warn of potential ripple effects. "This policy shift could reshape Asia's manufacturing landscape," said Singapore-based trade analyst Li Wei. "Countries from Vietnam to India may see both challenges and opportunities in recalibrating trade flows.
Business leaders are scrutinizing how the tariffs might affect cross-border investment patterns. Preliminary reports suggest some manufacturers are accelerating plans to diversify production bases across Southeast Asia.
