S&P 500 plunges 6% to close its worst week since 2020 after China retaliates against Trumps tariffs

Wall Streets worst crisis since COVID slammed into a higher, scarier gear Friday.

The S&P 500 lost 6% after China matched President Donald Trumps big raise in tariffs announced earlier this week. The move increased the stakes in a trade war that could end with a recession that hurts everyone. Not even a betterthanexpected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.

The drop closed the worst week for the S&P 500 since March 2020, when the pandemic crashed the economy. The Dow Jones Industrial Average plunged 2,231 points, or 5.5% Friday, and the Nasdaq composite tumbled 5.8% to pull more than 20% below its record set in December.

MORE: https://www.wthr.com/article/news/nationworld/selloffworsensformarketsworldwidechinaretaliatesagainsttrumpstariffs/507e03bdfbf1a7a41b39e84328c69ae4d20

Source: WTHR

Published on April 5, 2025