US markets fell for the second consecutive day due to tariff announcement
After the announcement of reciprocal tariff by US President Donald Trump, the US stock market witnessed a huge decline for the second consecutive day on April 4. The Dow Jones index closed at 38,314, down by about 2,231.07 points or 5.50%. It had also fallen by 3.98% a day earlier. That is, the Dow Jones has fallen by more than 9% in just two trading sessions.
At the same time, the S&P 500 index fell by 322.44 points or 5.97%. It came down to 5,074. The Nasdaq Composite closed at 15,587, down by 962.82 points or 5.82%. Shares of companies like Apple, Boeing, Intel and Dow INC fell by up to 12%.
Market cap decreased by about 5 trillion dollars in two days
Due to this decline, the market cap of the US stock market decreased by more than 2 trillion dollars. The market cap of the S&P 500 index was $45.388 trillion on April 3, which has come down to about $42.678 trillion on April 4. On the other hand, the market cap was $47.681 trillion on April 2. That is, the market cap has come down by about $5 trillion in two days.
On April 3, the Dow Jones closed at 40,545, down 3.98%
The Dow Jones closed at 40,545, down 1,679 points (3.98%) a day earlier. On the other hand, the S&P 500 index fell by 274 points (4.84%). It came down to 5,450. The Nasdaq Composite closed with the maximum fall of 1,050 points (5.97%).
Reciprocal tariffs will be implemented from April 10
All goods coming into the US will be subject to a 10% baseline (minimum) tariff. The baseline tariff will be implemented on April 5 and the reciprocal tariff will be implemented after 12 midnight on April 9. Baseline tariffs are imposed on imports under normal rules of trade, while reciprocal tariffs are imposed in response to tariffs imposed by another country.
