U.S. stocks post biggest drop since 2020 as Trump tariffs fuel recession fears

Dollar down against euro and yen; Apple leads declines among Big Tech

S&P 500 companies lost a combined $2.4 trillion in stock market value, their biggest one-day loss since the coronavirus pandemic hit global markets on March 16, 2020. © Reuters

April 3, 2025 23:27 JST

Updated on April 4, 2025 07:29 JST

NEW YORK (Reuters) -- Major U.S. stock indexes registered their biggest daily percentage drops since 2020 on Thursday and the dollar weakened as U.S. President Donald Trump's drastic trade tariffs stoked fears of a global recession and led investors to seek safe-haven assets like bonds and the yen.

S&P 500 companies lost a combined $2.4 trillion in stock market value, their biggest one-day loss since the coronavirus pandemic hit global markets on March 16, 2020.