U.S. stocks hit their worst performance since September 2022, as global stocks pay for Trump's tariff plan

Odaily Planet Daily News Global stocks plunged on Thursday as U.S. President Trump's comprehensive tariff plan kicked off a trade war with wide-ranging impacts on the global economy. Public fears about rising prices, slowing economic growth and even the possibility of a recession caused U.S. stock indexes to plummet, recording their worst single-day performance since at least September 2022. Apparel and retail companies led the decline, with Williams-Sonoma, Ralph Lauren and Deckers Outdoor all falling more than 17%. Technology and technology retail stocks such as HP, Best Buy and Garmin all fell at least 15%. Magnificent 7 stocks, which have led the market higher in the past two years, also fell generally, with Apple and Amazon both falling more than 8%. More than 400 stocks in the S&P 500 fell. The S&P 500 is now down 4.1%, on track for its biggest single-day drop since September 2022. The Nasdaq's decline once widened to 5.8%, which is expected to be the biggest single-day drop since March 2020. (Jinshi)