Trump's tariff terror - Stock markets around world collapsed!
Due to US President Donald Trump's tariff war, many major stock markets around the world have fallen and have suffered losses of more than $10 trillion. According to a Bloombloomberg report, this loss on such a large scale was a little more than half of the european Union's gross domestic product (GDP).
Chaos in the global market
As soon as trump announced the reciprocal tariff last week, there was a stir in the global market. Due to fears of recession and trade war, there were a lot of fluctuations in stocks, bonds and commodities. However, the biggest impact of Trump's tariff announcement was seen on the US stock market. The S&P 500 index fell by 4-4 percent three times in a row and this happened for the first time in almost a century. This was its worst performance since the end of World war II. This situation was quite similar to the Black monday of 1987, when the Dow Jones Industrial Average fell by 22.6 percent. This was the biggest fall in a single day. During that time, the Dow Jones fell 508 points to close at 1738.74. This was the biggest fall in the US stock market so far.
These suffered the most
According to a report by El Pais, a leading Spanish newspaper, the loss suffered by the stock market after Trump's tariff announcement was more than the loss caused by the 2020 Kovid epidemic, the bankruptcy of Lehman Brothers or the loss of 1998. Although its effect was also seen in the indian stock market, Asian stock market, but Wall Street suffered the most. The biggest brunt of this was borne by apple, Google, Nvidia, Meta, amazon, microsoft and Tesla, also known as the 'Magnificent Seven'.
Tariffs hit Apple
According to a report by El Pais, the 'Magnificent Seven' have suffered a loss of $1.6 trillion since last Thursday, with apple suffering the most. During this period, the company has suffered a loss of half a trillion dollars or 16.8 percent of its total value. Since Apple's devices are completely made in Asia, the tariffs have had a direct impact on it. According to the report, Nvidia is second in terms of losses, which suffered a loss of $385 billion. amazon is third with a figure of $262 billion. Apart from these, JP Morgan, Eli Lilly, Berkshire Hathaway, Visa, Exxon Mobil, Walmart and bank of America also suffered a loss of more than $54 billion in three days.
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