US Markets Down Upon Global Tariff Announcement

Energy, technology, and consumer discretionary sectors took the hardest hits, with losses around 7 percent. Industrials and financials fell by about 5 percent.

Traders work on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City on April 3, 2025. Charly Triballeau/AFP via Getty Images

U.S. stocks saw a sharp decline on April 3 after President Donald Trump imposed steep tariffs on many nations during a White House Rose Garden address on April 2, marking a new era in U.S. trade policy.

In the weeks leading up to the tariff announcement, markets had already faced significant volatility, with some believing the actual risk was overstated.