Market Turmoil: Stocks Plunge Amid Global Trade Tensions

Major U.S. stock indexes fell over 3% after President Trump's tariff adjustments stirred investor skittishness. Despite early relief rallies, lingering uncertainty and potential economic impacts from ongoing trade disputes contributed to market volatility. Investors brace for the release of quarterly earnings reports from major banks.

The major U.S. stock indexes experienced a significant drop on Thursday, with the S&P 500 plummeting more than 3%. This downturn comes as investors grapple with uncertainty following President Trump's decision to temporarily lower tariffs on many countries, which initially led to a relief rally.

Despite Wednesday's rally, apprehension persists due to the trade war's unresolved economic effects. Trump has indicated further tariff increases on Chinese imports, maintaining a blanket 10% duty on nearly all U.S. imports. The total U.S. tariffs on China have reached 145% following the latest hike.

Market strategists remark on the prevailing uncertainty, with Chief Market Strategist Art Hogan stating the current period remains uncertain despite the initial positive news. As investors anticipate upcoming U.S. quarterly earnings, including results from major banks like JPMorgan Chase, market volatility continues amid Trump's sweeping tariff announcements.

(With inputs from agencies.)