The U.S. stock market has been volatile in April 2025, triggered by President Trump's aggressive trade stances and attacks on the Federal Reserve. On April 3–4, the Dow dropped over 4,000 points and the S&P 500 lost nearly 10%, the worst two-day loss in history. The sell-off intensified on April 21 after Trump renewed criticism of Fed Chair Jerome Powell. However, markets rebounded on April 23 after Trump softened his tone and hinted at easing tariffs, pushing the S&P 500 and Nasdaq up 2.7%. Despite this, year-to-date losses remain heavy, with the S&P down 12.3% and Nasdaq off 17.8%.
