Sharp decline: The US stock market has experienced a precipitous drop.
The Nasdaq Composite Index saw its largest drop since September 2022, while the S&P and Nasdaq suffered their worst day of the year, according to statistics. A 4 percent fall was registered by the Nasdaq index, while the Dow Jones and S&P plummeted more than 2 percent.
Concerns about the effects of tariffs were cited by US media as the reason for the huge share sale. US President Donald Trump stated on Sunday that the US economy would go through a transitional phase in this regard.