Stock Market Today: Stocks take $2 trillion 'Tariff Tantrum' plunge
The S&P 500 is trading at the lowest levels since early September.
U.S. stocks plunged in early Thursday trading, dragging the S&P 500 back to the lowest levels in more than six months, as global markets reacted to the comprehensive tariff plans unveiled yesterday by President Donald Trump.
Updated at 11:11 AM EDT
$2 trillion and counting
The S&P 500 has shed more than $2 trillion in value in just over two and a half hours this morning, falling 4.4% to peg the value of the biggest U.S. companies at around $45.68 trillion amid the global market reaction to President Trump's massive tariff increases.
"While we have made it past 'Liberation Day', there is still no clarity on tariffs, as President Trump has complete discretion on adjusting these tariffs and the ability to create carve outs as he sees fit," said David Bahnsen, chief investment officer at the Newport Beach, California-based Bahnsen Group.
"For a stock market that was craving certainty, there is now even more ambiguity than before this announcement," he added. "We expect this risk-off environment to affect the riskiest and most expensive parts of the market, which include big tech, many of the AI-related names and the consumer discretionary sectors."
US Stock market sell off intensifies in AM trade on #tariffs reaction. Major equity averages extending losses on Thursday morning - $2 trillion wipeout from US market on losses
