Dow Jones drop over 1,600 points, S&P 500 records worst performance since 2020

The US equities deepened their losses after US President Donald Trump announced sweeping reciprocal tariffs, which risk a global trade war that could lead to a global recession. The US markets entered again into correction.

The Dow Jones Industrial Average slid 4%, or 1,679 points, to 40,545 points, posting the deepest drop since September 2020.

The S&P 500 Index slumped nearly 4.85%, or 274 points, to 5,396 points, demonstrating the worst daily performance since June 2020.

The Nasdaq Composite lost more than 5.95%, or 1,050 points, to 16,550 points. The index posted the deepest loss since March 2020.

As for the European indices, the STOXX Europe 600 shed 2.55% to 523.1 points, hurt by declines in the energy, banks, technology, mining and auto sectors.

The FTSE 100 dropped 1.55% to 8,474 points. The CAC 40 fell 3.3% to 7,598 points, with the DAX 40 also plunging 3% to close at 21,717 points.

In Japan, the Nikkei 225 tumbled 2.75%, or 989 points, to 34,735 points. Similarly, TOPIX ended nearly 3.10% lower at 2,568 points.

On oil, Brent crude futures for June delivery fell 6.4%, or $4.81, to settle at $70.14 a barrel, marking the worst percentage decline since August 1, 2022.

Meanwhile, US WTI crude futures for May delivery dropped 6.65%, or $4.76, to $66.95 a barrel, the sharpest decline since July 11, 2022.

Gold June futures contracts declined 1.4%, or $44.5, to $3121.70 per ounce.