Dow Jones Plummets 400 Points as Tariff Fears Rattle Traders

Wall Street’s benchmark index takes a nosedive—because nothing says ’stable economy’ like resurrecting trade wars. Tech stocks lead the selloff as investors flee to crypto—because when traditional markets wobble, digital assets just shrug.

Tariff talk tanks markets (again): The Dow’s 400-point drop proves markets still haven’t developed immunity to political volatility. Meanwhile, Bitcoin hodlers sip their coffee—unbothered.

Bonus finance jab: ’Risk management’ on Wall Street apparently means panicking in unison every time a politician opens their mouth.

Tariffs cause record-high U.S. trade deficit

Recent figures also showed that the U.S. trade deficit hit a record high in March, reaching $140.5 billion. The figure doubled over the last year, which stood at $68.6 billion in March 2024. The deficit was a reaction to the tariffs, as companies rushed to import as much as possible before higher rates took place.

According to a report from the Commerce Department on Tuesday, the U.S. imported a record amount of goods from 10 countries. These included Mexico and Vietnam, but not China. Notably, imports from China were the lowest in five years and will probably drop further due to the continued 145% tariff rate.