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Trump Tariffs Erase $2.5 Trillion From US Stock Market in Biggest Single-Day Drop Since 2020

  • Dow futures dropped by 1,200 points following President Donald Trump's tariff announcement, marking one of the biggest single-day declines since 2020.
  • The S&P 500 futures dropped by 3.5% as investors reacted to fears of economic disruption caused by Trump's tariff policies.
  • The Consumer Technology Association warned that the tariffs would cause 'massive tax hikes' for U.S. Consumers, leading to rising inflation.
  • Vice President JD Vance reassured the public that the tariffs might create short-term difficulty but would ultimately benefit the long-term economic health of American consumers.
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Fortune broke the news in New York, United States on Wednesday, April 2, 2025.
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