The stock market experienced a significant downturn on Thursday, with the DOW dropping over 1,400 points, the S&P500 falling more than 4%, and the NASDAQ plummeting over 5%. This decline was triggered by President Trump's unexpected "Liberation Day" tariffs, which affected nearly all U.S. trading partners, including a substantial increase in tariffs on China. This has particularly impacted tech companies like Apple, which saw its stock fall by 9%, erasing $300 billion in value.

Tech stocks, including the "Magnificent Seven," were the hardest hit, with companies like Nvidia, Amazon, Alphabet, and Tesla experiencing declines between 6% and 8%. These tech giants collectively lost over $800 billion in value in a single day, contributing to the market's overall volatility.

The banking sector also suffered, with major banks such as JPMorgan, Citigroup, Wells Fargo, and Bank of America seeing stock declines between 7% and 11%. An index tracking U.S. banks fell over 8.5%, marking the worst day since the 2023 banking scare. The market's reaction reflects growing fears of a potential recession, with uncertainty surrounding Trump's policies impacting lending and deal-making activities.

Trump's aggressive tariff strategy, imposing a flat 10% duty on all trading partners with additional penalties for certain countries, has already begun to shake global markets. This has led to sharp declines in European and Asian markets, with Japan's Nikkei reaching its lowest level since August. Automakers like Volkswagen and Ford are also feeling the impact, pausing shipments or cutting production.

The stock market's future remains uncertain, with inflation concerns and potential global economic slowdown looming. Investors are closely monitoring upcoming earnings reports for signs of weakness that could prompt further selling. The market remains on edge, and the possibility of continued volatility cannot be ruled out.