Updated April 7th 2025, 20:18 IST
US Indices Turn Red After Brief Relief; Global Bloodbath Resumes On Wall Street
Wall Street's main indices opened sharply lower on Monday, as the S&P 500 was on track to confirm the bear market territory.
- Republic Business
- 2 min read
The Wall Street's main indices opened sharply lower on Monday, as the S&P 500 was on track to confirm the bear market territory and Dow Jones reversed the losses.
Dow Jones Exhibits Volatility
While the Dow Jones Industrial Average fell at 1,212.98 points at 9:31 am, or 3.17%, to 37,101.88, the S&P 500 lost 181.37 points, or 3.57%, to 4,892.71, and the Nasdaq Composite lost 623.23 points, or 4.00%, to 14,964.56.
In a dramatic rebound on Monday, the Dow Jones added 705 points, or 1.7%, after losing as much as 1,700 points earlier in the session.
Later, Dow Jones is down 2.4% and was trading at 37.303 at the time of filing this report, at 8:11 pm IST. Nasdaq was also down 1.7% trading at 17,132.
Why Is This Happening?
According to reports, investors are seeking refuge in government bonds as economic anxieties deepen, due to the fallout of the US President Donald Trump 's sweeping tariff plans.
As Trump's unilateral tariffs of 10% came into effect on Saturday, investors were hoping for reduced tariff rates across the world, instead the Trump administration and his key advisors downplayed the selloff.
Commenting on the market sell-off, the US President Donald Trump said, “I don’t want anything to go down, but sometimes you have to take medicine to fix something.”
Trump added, “We have a trillion-dollar trade deficit with China, hundreds of billions of dollars a year we lose with China. And unless we solve that problem, I’m not going to make a deal.”
Published April 7th 2025, 19:40 IST
