"Dow Plunges 700 Points as Tariff Reversal Shakes US Stock Market"

On April 10, 2025, the US stock market experienced a significant reversal from the previous day's gains. The Dow Jones Industrial Average was down by 1.8 percent, or more than 700 points, shortly after the opening bell. The S&P 500 declined by 2.2 percent, and the Nasdaq Composite fell by 2.7 percent.The key factor driving today's market direction was the aftermath of President Trump's announcement to pause many of the tariffs that had been implemented, except for those on China. While this announcement led to a historic surge in the markets on Wednesday, with the S&P 500 jumping 9.5 percent and the Nasdaq surging 12.2 percent, today's trading saw a giveback of some of those gains.Notably, mega-cap technology stocks were among the biggest decliners, with chipmakers like Nvidia and Broadcom dropping around 5 percent each. Tesla, which had risen 23 percent the previous day, also fell by 5 percent. Other major tech companies such as Apple, Microsoft, Amazon, Alphabet, and Meta Platforms were also losing ground.In terms of market highlights, the most actively traded stocks were largely from the technology sector, which were among the biggest percentage losers of the day. The significant market-moving news event was the continued impact of Trump's tariff policies, particularly the 125 percent levy on Chinese imports, which maintains uncertainty and volatility in the market.Looking forward, pre-market futures indicated a continuation of the downward trend. Key events to watch for tomorrow include the start of earnings season, with major banks set to release their latest results. This could be a significant market catalyst, especially given the ongoing trade tensions and their potential impact on global economic conditions.Important economic data releases, such as the yield on the 10-year Treasury, which was at 4.31 percent this morning, down from 4.40 percent at yesterday's close, also reflect the market's volatility and concerns about borrowing costs and global demand. Gold futures rose by 2 percent to around $3,140 per ounce, while West Texas Intermediate crude oil futures fell by 4.5 percent to around $59.55 per barrel, indicating persistent concerns about global demand.This content was created in partnership and with the help of Artificial Intelligence AI