US stocks plummeted on Thursday as President Trump threatened fresh tariffs on European imports, while Nvidia shares tumbled 8.5% following better-than-expected earnings.
The Nasdaq Composite fell 2.8%, led by the tech-heavy index’s worst post-earnings day since 2018. The Dow industrials dipped 0.5%, and the S&P 500 dropped 1.6%, pushing its year-to-date return into negative territory.
Nvidia’s results, which beat expectations, failed to impress investors due to narrower profit margins and concerns about sales in China. Trump’s threat of EU tariffs, targeting cars and other goods, added to market uncertainty.
The US president also reiterated plans for tariffs on Canada and Mexico, as well as a 10% levy on China, starting Tuesday. European stocks fell, with auto shares among notable losers. The 10-year Treasury yield closed at 4.284%, while the 2-year yield rose to 4.079%.
Bitcoin traded around $83,000, as investors digested the latest market news and awaited further guidance from the new administration.
Source: https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-02-27-2025