11 Mar 2025

DOW Jones Index, NASDAQ, S&P 500 Plunge, Trade War Escalates

by Bonnie | | 0

USA stock markets fell dramatically, with the DOW average losing more than 1000 points, on fears about the economy and a looming “Trumpcession” as Donald Trump’s trade war escalated.

The DOW Jones index recovered enough to end the day down by 890.01 at 41,911.72 (-2.08%). NASDAQ finished down by 727.90 at 17,468.32 (-4.0%). S&P 500 finished down by 155.64 at 5,614.56 (-2.7%).

Goldman Sachs downgraded its 2025 economic growth forecast from 2.4% to 1.7% due to Trump’s trade policies.

Stock markets elsewhere were mixed instead of plunging in sympathy. Some companies outside the USA are enjoying an increase in their share prices and order books as attention shifts to avoiding business dealings with the USA.

Shares in Elon Musk’s company Tesla fell more than 15% to their lowest level since 23 October 2024 before the election. Tesla is down more than 53% from its all-time high in December 2024.

Meanwhile, the trade war Trump is pursuing escalated further. China’s retaliatory tariffs on USA farm products began. Ontario, Canada, added to its retaliation a 25% surcharge on electricity it exports to the USA.

Click here for more details.

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