The benchmark index fell 1.6% on Tuesday marking a $5.8 trillion loss in market value since President Donald Trump unveiled hefty global tariffs against U.S. trading partners on Wednesday. Because I think things are very seized up, meaning things are not moving because the businesses, especially, don't know what decisions to make.
Stocks spiked Tuesday, with news of possible trade deals between the US and other countries helping investors claw back some of the worst losses since 2020.
The S&P 500 fell 1.6% on Tuesday, April 8, 2025, as investors braced for new tariffs to take effect.
What was a massive rally on Wall Street has turned into yet another sizeable decline.
The S&P 500 ended the day above bear-market territory, but the US-China trade war risks further tumult.
Investors are digesting tariff whiplash after the White House confirmed plans to levy 104% tariffs on China, set to go into effect at 12:01am ET.
A stock market rally evaporated on Tuesday as the White House announced further tariffs on China.
Sushi restaurant chain Kura Sushi (NASDAQ:KRUS) met Wall Street’s revenue expectations in Q1 CY2025, with sales up 13.3% year on year to $64.89 million. On the other hand, the company’s full-year revenue guidance of $277 million at the midpoint came in 1.3% below analysts’ estimates. Its non-GAAP loss of $0.14 per share was in line with analysts’ consensus estimates.
Egg company Cal-Maine Foods (NASDAQ:CALM) fell short of the market’s revenue expectations in Q1 CY2025, but sales rose 102% year on year to $1.42 billion. Its GAAP profit of $10.38 per share was 4.8% below analysts’ consensus estimates.
Apple shares fell nearly 5% Tuesday after the Trump administration said it would enact a 104% tariff on Chinese goods.