Dow sinks more than 1,600 points as Trump's tariffs rattle markets

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Stocks collapsed on Thursday due to President Trump's tariff plan. All three of the major indexes plummeted in Thursday's trading, with the Dow Jones Industrial Average (^DJI) losing 1,680 points, the S&P 500 (^GSPC) closing lower by nearly 5%, and the Nasdaq Composite (^IXIC) shedding nearly 6%.

Yahoo Finance Markets and Data Editor Jared Blikre breaks down the action at the close.

To watch more expert insights and analysis on the latest market action, check out more Market Domination here.

00:00 Speaker A

A sea of red here. Uh, all the popular averages down hard. Got the Dow down, uh, nearly 1700 points, nearly 4%, the S&P 500 down 4.8%, the NASDAQ down 6%, the small caps down 6.2%. We know what the worry is. It's tariffs, what it means for the US economy, and what it means for the global economy and what comes next. These trading partners, do we see negotiations or retaliation? Now to Jared for a closer look at today's sector action. Jared.

00:32 Jared

Yes, not pretty, just looking at the Dow once again almost 1700 points here, and you can see we closed at the lows of the day. So that just means just kind of begs a question, are we going to see a continuation into the next day? And, uh, you take a look at the S&P 500, I'll put a one-year chart up real quick, that is going to be the lowest print since about September. It's going to be August for some of these as well, and the worst date either since 2022 or 2020, that would be the pandemic lows or the the bear market that we had in 2022. Now here's the sector action, not very good. Energy, which had been a safety trade all year, that got smoked the most down almost 8%, tech in second place to the end. Uh, then consumer discretionary, then industrials, then financials, only staples, that's XLP in the upper left was in the green today. Utilities and healthcare and real estate also not as bad as the rest. Uh, you can see a few trades still strictly trickling in here and take a look at the NASDAQ 100. Not a lot of green and just a lot of red. Uh, Apple down well over, I believe, $300 billion down 9.25%, worst day in years there. Meta down 9%, Tessa down 5 and 1/2 percent, Broadcom down 10%, list goes on. I'll show you the Dow now. We do have more green here. We do have some consumer staples, and we also have some healthcare trades like United Health had a decent day. That was up 3.4%. Healthcare did catch a bid in certain areas, not biotech, which is a lot more speculative. I'll show you the Dow transports as well, because this is just a sea of red. 100% of these issues, uh, closed the day in the red. And if I take a look at the leaders, it is a very similar story there. These are just kind of bellwethers that I look at. Some of the worst off, the oil trade down 12%, that's small oil down there, uh, regional banks, KRE down 10%, chip stocks down 10, transportation down eight, innovation, that's the Arc Innovation Fund down 8%, and retail down 8%. So I'll just show you some of the, uh, different industry groups inside of semiconductors. Intel was a bright spot, uh, perhaps benefiting from, uh, the the, uh, tariff situation. That was up 2%, nothing else in the green there as far as this board goes. Here's software, very similar story, absolutely nothing in the in the green. And then here is the smaller components. This is disruption, those arc innovation components, seeing a lot of losses there. I have been showing some of the consumer staples because we do need to see a little bit of green here. We can see that in some of these food issues. Coca-Cola and Pepsi each up, um, looks like Unilever up as well. And then we also see this in the beverage space. You take a look at some of the quick service restaurants, we call that fast food, kind of a mix here, but we are seeing McDonald's, which is a very steady netty chart there. That's up 2%. So leave you guys on a little bit of green.

04:47 Speaker A

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