Wall Street responded very negatively on Thursday to the reciprocal tariffs announced the evening before by US President Donald Trump.
The S&P 500 index opened 3.4% lower, its worst trading day since September 2022, according to the CNBC business news provider.
The Dow Jones index fell by 2.8%, while the tech-oriented Nasdaq index dropped by 4.6%.
Multinational companies Nike and Apple saw their stock prices decrease by 11 % and 8 % respectively.
Other companies heavily reliant on imports, such as clothing retailer Gap and discount chain Dollar Tree, were also significantly affected, falling by 15% and 10% respectively.
Tech giant Nvidia’s stock price declined by 5%.
Trump announced on Wednesday a minimum import tariff of 10% on all goods from abroad, and special tariffs on goods from selected countries and regions.
