📈 Tariff Shock Wipes $5.3 Trillion Off S&P 500: Index Falls 10.5% in Two Days

On April 4, 2025, the S&P 500 plunged to 5,074, dropping 10.5% in just two days and erasing $5.3 trillion in market value. The sharp selloff followed Trump April 2 announcement of sweeping reciprocal tariffs on key U.S. trading partners. As a result, the S&P 500's total market capitalization fell to $45.1 trillion. Since its recent peak on February 19, the index has lost $9.5 trillion—down 17.4% overall.