The U.S. stock market experienced significant declines for the second consecutive day. The Dow Jones Industrial Average dropped by 1,300 points. Both the S&P 500 and Nasdaq saw nearly 4% decreases in early trading. This followed a Thursday session that marked the worst performance for the Nasdaq and S&P since the Covid panic of 2020. Large companies felt the impact as investors reacted to new tariffs. Apple’s stock fell by 3%, Meta by 4%, Disney by 4%, and Warner Bros Discovery by 7%. Amazon’s shares dipped by 1%, while Netflix saw a 5% decline. China announced a 34% tariff on U.S. goods in response to a similar tariff imposed by the U.S. Additional tariffs are set for other countries: India at 26%, Taiwan at 32%, Thailand at 36%, Vietnam at 46%, and the European Union at 20%. These measures will be implemented gradually over the next week. Amid the widespread declines, Newsmax, a TV news network, rose by 5% and has increased over 500% since its IPO earlier this week.
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