A view shows the New York Stock Exchange Wall Street entrance in New York City, U.S., April 7, 2025.
Credit: Reuters Photo
Wall Street's main indexes extended declines in afternoon trading on Thursday, with the benchmark SP 500 plunging more than 5 per cent as investor concerns about the economic damage from US tariff policies returned to the fore.
Stocks shot higher on Wednesday after US President Donald Trump declared a 90-day tariff pause for many countries but raised the levy on imports from China to 125 per cent.
The pause on tariffs from dozens of trading partners came less than 24 hours after they kicked in.
At 12:17 p.m. ET, the Dow Jones Industrial Average fell 1,799.95 points, or 4.43%, to 38,808.24, the SP 500 lost 285.64 points, or 5.25%, to 5,170.61 and the Nasdaq Composite lost 1,045.35 points, or 6.10%, to 16,079.62.