S&P 500 Records Largest Drop in 5 Years

The S&P 500 index recorded its biggest decline in five years following reports that U.S. tariffs on Chinese goods had reached 145%, interfax.ru reported. On Thursday, U.S. stock indexes saw intensified declines.

The Dow Jones Industrial Average dropped by 5.06%, the S&P 500 by 5.92%, and the Nasdaq Composite by 6.8%. During the session, the S&P 500 fell as much as 6.1%, marking the steepest single-day loss since March 2020.

On April 9, U.S. President Donald Trump increased tariffs on Chinese imports from 84% to 125%, with a previous 20% levy also in place due to concerns over fentanyl, bringing the total to 145%.