Markets

U.S. stocks plunge 6% as tariff crossfire heats up

Fed's Powell warns Trump trade policy could lead to higher inflation, slower growth

20250404N NYSE

A trader works on the floor at the New York Stock Exchange. © Reuters

Nikkei staff writers
April 4, 2025 23:04 JST
Updated on April 5, 2025 05:50 JST

NEW YORK -- U.S. stocks extended their declines on Friday after China retaliated against new Trump administration tariffs, prompting investors to confront the risk of a global recession.

The S&P 500 index fell 5.97%, with over 95% of its components down. Shares with the biggest losses included Nvidia and Apple.

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