U.S. stocks post worst performance since September 2022

CoinRank News: Global stocks plunged on Thursday as U.S. President Donald Trumps sweeping tariff plan kicked off a trade war with broad implications for the global economy. Public fears of rising prices, slowing economic growth and even the possibility of a recession sent U.S. stock indexes tumbling, posting their worst one-day performance since at least September 2022. Apparel and retail companies led the decline, with Williams-Sonoma, Ralph Lauren and Deckers Outdoor all falling more than 17%. Technology and tech retail stocks such as HP, Best Buy and Garmin all fell at least 15%. The Magnificent 7 stocks that have led the market higher over the past two years also generally fell, with Apple and Amazon both falling more than 8%. More than 400 stocks in the SP 500 fell. The SP 500 is now down 4.1%, on track for its biggest one-day drop since September 2022. The Nasdaqs decline widened to 5.8%, on track for its biggest one-day drop since March 2020. (Jin Shi)