The Dow, S&P 500 and Nasdaq are under pressure for a second day as global investors sell equities in response to President Trump’s sweeping tariffs against the majority of U.S. trading partners, including China who is retaliating.

The drop ended the worst trading week since March 2020, when the Covid pandemic closed down much of the economy and sparked a selloff.

S&P 500 companies lost a combined $2.4 trillion in stock market value in Thursday's selloff on Wall Street, their biggest one-day loss in value since the emerging coronavirus pandemic sent global markets into a tailspin on March 16,

President Donald Trump's expansive new tariff regime flips on its head a decades-long global trend of lower trade barriers and is likely, economists say, to raise prices for Americans by thousands of dollars each year while sharply slowing the U.

President Donald Trump's move to impose sweeping tariffs on U.S. imports sparked threats of retaliation on Thursday, as companies and governments rushed to count the costs from an escalating trade war that threatens to shake up global alliances.

The US president, who has vowed to remake the global trade order, dismissed concerns, noting the US jobs market is strong.

China slapped a 34% tariff on U.S. goods starting April 10 in retaliation to Trump's tariff plans. Global markets tumble as the trade war begins. Follow along for live updates on how the Dow, S&P 500 and Nasdaq are reacting.

Stock indexes tumbled on Thursday, with the S&P 500 down more than 4%, while the U.S. dollar weakened and oil prices fell more than 6% as President Donald Trump’s drastic U.S. trade tariffs stoked fears of a global recession and led investors to seek safe-haven assets like bonds and the yen.