Wall Street Trembles: Bear Market Looms Amid Tariff Turmoil

Wall Street's major indexes faced significant losses as investors shifted to government bonds due to economic concerns over Trump's tariffs. The S&P 500 was near bear market territory, exacerbated by hefty tariffs imposed on U.S. trading partners. Economic indicators and central bank actions are closely monitored.

Wall Street's primary indexes are on high alert for considerable losses as the S&P 500 nears bear market status. Investors are fleeing to government bonds amid growing economic panic prompted by President Donald Trump's comprehensive tariff strategies.

Despite a drop in 10-year U.S. Treasury yields to 3.986%, hopes for a Federal Reserve interest rate cut persist. Nevertheless, economic adviser Kevin Hassett has attempted to allay these fears, emphasizing that Trump is open to negotiations with global leaders.

Market drops affected S&P 500 E-minis by 2.51%, Nasdaq 100 E-minis by 2.56%, and Dow E-minis by 2.32%. Commentators suggest a technical bounce may occur, yet substantial fundamental shifts—such as tariff reversals or central bank interventions—are needed to halt the selloff.

(With inputs from agencies.)