S&P 500 Slides 4% in Biggest Drop Since 2022
Wall Street had a brutal day Thursday, with the Dow tumbling over 1,500 points while the S&P 500 lost more than 4%. Investors fled equities en masse, sending decliners at the NYSE outnumbering advancers by a six-to-one margin. Tech giants Apple and Nvidia were among the biggest losers, and retail stocks like Dollar Tree and Gap also took a hit.
Much of the sell-off came amid fresh concerns about recession risks, softening job data, and a renewed shift to safer assets like Treasurys. Traders also pointed to diminished consumer spending as a key driver of Thursday’s slump, noting that even industry leaders could struggle to prop up earnings in the current environment.
A new round of tariffs announced by President Donald Trump may have added to the gloom, stoking fears of rising costs and weakening consumer demand. But for now, uncertainty about corporate guidance and overall economic momentum seemed to weigh most heavily on share prices. Analysts say the market’s next steps hinge on quarterly earnings and a more stable trade outlook.
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