In a surprising turn of events, Fox Business Network host Stuart Varney witnessed an immediate 350-point drop in the stock market at the opening bell. This plunge came just moments after he predicted substantial losses due to President Trump's forthcoming tariff announcement, which was dubbed by Trump as 'Liberation Day.' Despite Varney's foresight, the extent of the decline caught him off guard. The market saw widespread losses, particularly affecting major tech stocks and resulting in significant declines across key indices.
Fox Business Network's Stuart Varney expressed disbelief as the stock market dropped 350 points immediately upon opening, anticipating significant losses ahead of Trump's tariff announcement.
Varney predicted a tumultuous market response to the tariffs, stating, "they'll clap, they will cheer, they press the button and I'm afraid it's going to unload a lot of red ink."
As trading commenced, Varney noted, "We're opening in the red big time! The Dow Industrial is down 350 points! That's 0.84%!"
The significant losses were widespread, with major indices like the S&P 500 and Nasdaq seeing drops of 1% and 1.3%, respectively, as all major tech stocks fell.
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